CWA Asset Management Group LLC Acquires Shares of 17,135 NextEra Energy, Inc. (NYSE:NEE)

CWA Asset Management Group LLC bought a new position in shares of NextEra Energy, Inc. (NYSE:NEE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,135 shares of the utilities provider’s stock, valued at approximately $1,448,000.

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

Wall Street Analysts Forecast Growth

NEE has been the subject of several recent research reports. Guggenheim boosted their price target on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Scotiabank upped their target price on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on NextEra Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $86.54.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $76.97 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. NextEra Energy, Inc. has a fifty-two week low of $53.81 and a fifty-two week high of $86.10. The firm has a market capitalization of $158.28 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.69 and a beta of 0.57. The company’s 50 day moving average price is $82.05 and its two-hundred day moving average price is $77.11.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is 60.95%.

NextEra Energy Company 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.