Red Cedar Investment Management LLC Increases Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Red Cedar Investment Management LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 45.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,342 shares of the utilities provider’s stock after purchasing an additional 9,771 shares during the period. Red Cedar Investment Management LLC’s holdings in NextEra Energy were worth $2,649,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NEE. Tandem Capital Management Corp ADV boosted its holdings in shares of NextEra Energy by 1.3% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 9,935 shares of the utilities provider’s stock worth $840,000 after purchasing an additional 125 shares during the last quarter. Insight Folios Inc lifted its stake in NextEra Energy by 1.5% during the third quarter. Insight Folios Inc now owns 8,439 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 126 shares in the last quarter. Taylor & Morgan Wealth Management LLC increased its position in shares of NextEra Energy by 1.7% during the third quarter. Taylor & Morgan Wealth Management LLC now owns 7,744 shares of the utilities provider’s stock worth $655,000 after acquiring an additional 126 shares during the period. Osborne Partners Capital Management LLC increased its holdings in NextEra Energy by 1.2% in the third quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock valued at $906,000 after buying an additional 128 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its stake in NextEra Energy by 0.4% in the third quarter. Boston Trust Walden Corp now owns 30,720 shares of the utilities provider’s stock valued at $2,597,000 after acquiring an additional 130 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NEE shares. Barclays raised their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Scotiabank raised their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price for the company. Finally, Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.54.

NextEra Energy Stock Up 0.4 %

NYSE:NEE traded up $0.30 during mid-day trading on Monday, reaching $77.65. The stock had a trading volume of 3,481,811 shares, compared to its average volume of 10,763,050. 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 stock’s 50 day simple moving average is $82.39 and its two-hundred day simple moving average is $76.87. NextEra Energy, Inc. has a 1-year low of $53.81 and a 1-year high of $86.10. The company has a market capitalization of $159.68 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.86 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $8.11 billion. During the same quarter last year, the company posted $0.94 earnings per share. NextEra Energy’s revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that NextEra Energy, Inc. will post 3.41 EPS for the current 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 $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a yield of 2.65%. NextEra Energy’s dividend payout ratio is currently 60.95%.

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.