Sumitomo Mitsui Trust Group Inc. Cuts Stake in NextEra Energy, Inc. (NYSE:NEE)

Sumitomo Mitsui Trust Group Inc. lessened its stake in NextEra Energy, Inc. (NYSE:NEE) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,711,401 shares of the utilities provider’s stock after selling 106,600 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of NextEra Energy worth $398,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Legal & General Group Plc increased its position in shares of NextEra Energy by 0.7% during the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after acquiring an additional 143,748 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of NextEra Energy by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after purchasing an additional 691,341 shares during the period. Raymond James & Associates increased its position in shares of NextEra Energy by 14.3% during the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after purchasing an additional 851,873 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of NextEra Energy by 7.2% in the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after purchasing an additional 409,708 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of NextEra Energy by 6.9% in the second quarter. Bahl & Gaynor Inc. now owns 5,981,760 shares of the utilities provider’s stock worth $423,568,000 after buying an additional 388,149 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

NEE stock opened at $75.91 on Tuesday. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a 12 month low of $53.81 and a 12 month high of $86.10. The stock has a market cap of $156.10 billion, a PE ratio of 22.46, a P/E/G ratio of 2.78 and a beta of 0.57. The company has a 50-day moving average price of $81.95 and a 200 day moving average price of $77.33.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The firm had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. NextEra Energy’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.94 EPS. Equities research analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a yield of 2.71%. NextEra Energy’s payout ratio is 60.95%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Guggenheim upped their price target on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank increased their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and a consensus target price of $86.54.

NextEra Energy Profile

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.