Spring Capital Management LLC Increases Holdings in NextEra Energy, Inc. (NYSE:NEE)

Spring Capital Management LLC grew its holdings in NextEra Energy, Inc. (NYSE:NEE) by 10.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 73,175 shares of the utilities provider’s stock after acquiring an additional 6,634 shares during the period. NextEra Energy accounts for about 3.5% of Spring Capital Management LLC’s portfolio, making the stock its 16th largest position. Spring Capital Management LLC’s holdings in NextEra Energy were worth $4,445,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NEE. Country Trust Bank increased its holdings in shares of NextEra Energy by 975.6% in the third quarter. Country Trust Bank now owns 441 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 400 shares during the last quarter. Alaska Permanent Fund Corp increased its holdings in shares of NextEra Energy by 59.8% in the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 208 shares during the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of NextEra Energy in the second quarter worth about $32,000. Valued Wealth Advisors LLC bought a new stake in shares of NextEra Energy in the fourth quarter worth about $34,000. Finally, West Tower Group LLC bought a new stake in shares of NextEra Energy in the second quarter worth about $36,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Up 0.1 %

NextEra Energy stock opened at $63.86 on Thursday. The business has a fifty day moving average of $57.72 and a two-hundred day moving average of $58.58. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.06. The firm has a market cap of $131.07 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.18 and a beta of 0.50. NextEra Energy, Inc. has a twelve month low of $47.15 and a twelve month high of $79.78.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.72 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, analysts forecast that NextEra Energy, Inc. will post 3.44 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.23%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. NextEra Energy’s dividend payout ratio is presently 57.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. BMO Capital Markets lifted their target price on NextEra Energy from $76.00 to $77.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on NextEra Energy from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 29th. Citigroup initiated coverage on NextEra Energy in a research note on Friday, December 8th. They set a “buy” rating and a $69.00 price objective on the stock. Mizuho reissued a “buy” rating and set a $67.00 price objective (up from $65.00) on shares of NextEra Energy in a research note on Friday, March 15th. Finally, StockNews.com cut NextEra Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, NextEra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $72.46.

About NextEra Energy

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.