Sawgrass Asset Management LLC Acquires Shares of 4,797 NextEra Energy, Inc. (NYSE:NEE)

Sawgrass Asset Management LLC acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,797 shares of the utilities provider’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NEE. Barlow Wealth Partners Inc. acquired a new stake in shares of NextEra Energy in the 4th quarter valued at about $633,000. Patrick M Sweeney & Associates Inc. acquired a new stake in shares of NextEra Energy in the 4th quarter valued at about $251,000. Sovereign Financial Group Inc. raised its stake in shares of NextEra Energy by 4.1% in the 4th quarter. Sovereign Financial Group Inc. now owns 8,807 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 346 shares in the last quarter. Palisade Asset Management LLC raised its stake in shares of NextEra Energy by 10.4% in the 4th quarter. Palisade Asset Management LLC now owns 20,150 shares of the utilities provider’s stock valued at $1,224,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Simmons Bank raised its stake in shares of NextEra Energy by 1.6% in the 4th quarter. Simmons Bank now owns 105,347 shares of the utilities provider’s stock valued at $6,399,000 after purchasing an additional 1,642 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NEE. Wells Fargo & Company increased their price objective on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Morgan Stanley increased their price objective on shares of NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Scotiabank increased their price objective on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 22nd. Mizuho increased their price objective on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 price objective on shares of NextEra Energy in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.93.

NextEra Energy Price Performance

Shares of NextEra Energy stock traded up $0.70 on Tuesday, hitting $71.95. The company had a trading volume of 13,416,327 shares, compared to its average volume of 11,931,911. The business has a 50-day simple moving average of $62.65 and a 200-day simple moving average of $59.94. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. The company has a market cap of $147.82 billion, a PE ratio of 19.60, a PEG ratio of 2.58 and a beta of 0.50. NextEra Energy, Inc. has a 52 week low of $47.15 and a 52 week high of $78.53.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue was down 14.7% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. Research analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a $0.515 dividend. The ex-dividend date was Monday, February 26th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 annualized dividend and a dividend yield of 2.86%. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

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.