Beaton Management Co. Inc. Invests $743,000 in NextEra Energy, Inc. (NEE) Stock
Beaton Management Co. Inc. bought a new position in shares of NextEra Energy, Inc. (NYSE:NEE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,300 shares of the utilities provider’s stock, valued at approximately $743,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Day & Ennis LLC lifted its position in NextEra Energy by 0.6% during the 1st quarter. Day & Ennis LLC now owns 2,174 shares of the utilities provider’s stock worth $279,000 after acquiring an additional 14 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in NextEra Energy by 0.3% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 4,745 shares of the utilities provider’s stock worth $665,000 after acquiring an additional 15 shares during the last quarter. Whalerock Point Partners LLC lifted its position in NextEra Energy by 0.3% during the 2nd quarter. Whalerock Point Partners LLC now owns 5,598 shares of the utilities provider’s stock worth $784,000 after acquiring an additional 15 shares during the last quarter. First Interstate Bank lifted its position in NextEra Energy by 1.3% during the 2nd quarter. First Interstate Bank now owns 1,259 shares of the utilities provider’s stock worth $176,000 after acquiring an additional 16 shares during the last quarter. Finally, Sfmg LLC lifted its position in NextEra Energy by 0.7% during the 2nd quarter. Sfmg LLC now owns 2,679 shares of the utilities provider’s stock worth $375,000 after acquiring an additional 19 shares during the last quarter. 75.23% of the stock is owned by hedge funds and other institutional investors.
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Shares of NextEra Energy, Inc. (NYSE:NEE) opened at $156.04 on Friday. The firm has a market cap of $73,990.00, a PE ratio of 23.75, a P/E/G ratio of 3.15 and a beta of 0.31. NextEra Energy, Inc. has a 52 week low of $112.63 and a 52 week high of $159.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.61 and a quick ratio of 0.49.
NextEra Energy (NYSE:NEE) last posted its earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.08. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.89 billion. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.74 earnings per share. equities analysts expect that NextEra Energy, Inc. will post 6.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.9825 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $3.93 dividend on an annualized basis and a yield of 2.52%. NextEra Energy’s payout ratio is currently 44.16%.
A number of research firms have weighed in on NEE. Goldman Sachs Group, Inc. (The) began coverage on shares of NextEra Energy in a research report on Monday, July 24th. They set a “buy” rating and a $160.00 target price for the company. KeyCorp reissued a “buy” rating and set a $155.00 target price on shares of NextEra Energy in a research report on Thursday, October 12th. BidaskClub upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Bank of America Corporation assumed coverage on shares of NextEra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $166.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a report on Tuesday, October 10th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. NextEra Energy has an average rating of “Buy” and a consensus price target of $155.38.
In related news, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 30,485 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.56, for a total transaction of $4,467,881.60. Following the completion of the sale, the executive vice president now directly owns 78,167 shares in the company, valued at approximately $11,456,155.52. The disclosure for this sale can be found here. In the last three months, insiders sold 65,385 shares of company stock worth $9,748,482. 0.53% of the stock is currently owned by insiders.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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