Municipal Employees Retirement System of Michigan Purchases 6,830 Shares of NextEra Energy, Inc. (NEE)
Municipal Employees Retirement System of Michigan increased its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 45.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,910 shares of the utilities provider’s stock after acquiring an additional 6,830 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in NextEra Energy were worth $3,070,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in NEE. BlackRock Inc. raised its holdings in shares of NextEra Energy by 3,384.2% during the first quarter. BlackRock Inc. now owns 37,833,468 shares of the utilities provider’s stock worth $4,856,682,000 after acquiring an additional 36,747,599 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of NextEra Energy by 75.0% during the first quarter. APG Asset Management N.V. now owns 1,971,565 shares of the utilities provider’s stock worth $253,090,000 after acquiring an additional 844,862 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of NextEra Energy during the second quarter worth $83,603,000. Canada Pension Plan Investment Board raised its holdings in shares of NextEra Energy by 7,771.4% during the first quarter. Canada Pension Plan Investment Board now owns 399,000 shares of the utilities provider’s stock worth $51,220,000 after acquiring an additional 393,931 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of NextEra Energy by 26.1% during the first quarter. Swiss National Bank now owns 1,851,224 shares of the utilities provider’s stock worth $237,642,000 after acquiring an additional 382,800 shares in the last quarter. Institutional investors and hedge funds own 75.67% of the company’s stock.
Several equities analysts have commented on NEE shares. BidaskClub raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) started 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 on the stock. KeyCorp reissued a “buy” rating and set a $155.00 target price on shares of NextEra Energy in a research report on Friday. BMO Capital Markets reissued a “buy” rating and set a $156.00 target price (up from $144.00) on shares of NextEra Energy in a research report on Friday, June 23rd. Finally, Morgan Stanley increased their target price on shares of NextEra Energy from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, May 8th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $149.17.
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Shares of NextEra Energy, Inc. (NEE) opened at 150.16 on Tuesday. NextEra Energy, Inc. has a 12 month low of $110.49 and a 12 month high of $151.30. The firm has a market capitalization of $70.46 billion, a P/E ratio of 17.20 and a beta of 0.33. The stock has a 50 day moving average price of $147.07 and a 200 day moving average price of $137.95.
NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.10. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. NextEra Energy’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.67 EPS. On average, analysts expect that NextEra Energy, Inc. will post $6.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be issued a $0.9825 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.62%. NextEra Energy’s payout ratio is 45.02%.
In other news, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $147.05, for a total value of $4,411,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.
NextEra Energy Profile
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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