Concorde Asset Management LLC Takes Position in NextEra Energy, Inc. (NYSE:NEE)

Concorde Asset Management LLC acquired a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,465 shares of the utilities provider’s stock, valued at approximately $208,000.

A number of other hedge funds have also recently modified their holdings of NEE. Tandem Capital Management Corp ADV boosted its holdings in NextEra Energy by 1.3% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 9,935 shares of the utilities provider’s stock worth $840,000 after buying an additional 125 shares during the period. Taylor & Morgan Wealth Management LLC boosted its holdings in NextEra Energy by 1.7% in the 3rd quarter. Taylor & Morgan Wealth Management LLC now owns 7,744 shares of the utilities provider’s stock worth $655,000 after buying an additional 126 shares during the period. Insight Folios Inc boosted its holdings in NextEra Energy by 1.5% in the 3rd quarter. Insight Folios Inc now owns 8,439 shares of the utilities provider’s stock worth $713,000 after buying an additional 126 shares during the period. Osborne Partners Capital Management LLC boosted its holdings in NextEra Energy by 1.2% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock worth $906,000 after buying an additional 128 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in NextEra Energy by 0.4% in the 3rd quarter. Boston Trust Walden Corp now owns 30,720 shares of the utilities provider’s stock worth $2,597,000 after buying an additional 130 shares during the period. Institutional investors own 78.72% of the company’s stock.

Insider Activity

In related news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE stock opened at $76.00 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. The company has a market capitalization of $156.29 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.78 and a beta of 0.57. The company’s 50-day simple moving average is $80.90 and its two-hundred day simple moving average is $77.67. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10.

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

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid 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 dividend yield of 2.71%. NextEra Energy’s dividend payout ratio is presently 60.95%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays boosted their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Bank of America upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets upped their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Hold” and a consensus target price of $86.85.

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.