Geode Capital Management LLC Purchases 820,704 Shares of NextEra Energy, Inc. (NYSE:NEE)

Geode Capital Management LLC grew its position in NextEra Energy, Inc. (NYSE:NEE) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,418,748 shares of the utilities provider’s stock after purchasing an additional 820,704 shares during the quarter. Geode Capital Management LLC’s holdings in NextEra Energy were worth $3,571,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Proffitt & Goodson Inc. boosted its holdings in NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after buying an additional 144 shares during the period. Semmax Financial Advisors Inc. lifted its position in shares of NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 225 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of NextEra Energy in the third quarter worth about $27,000. Valley Wealth Managers Inc. purchased a new stake in shares of NextEra Energy during the second quarter worth about $33,000. Finally, Quarry LP bought a new stake in NextEra Energy during the 3rd quarter valued at approximately $33,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $74.70 on Tuesday. The firm’s 50 day simple moving average is $79.30 and its 200-day simple moving average is $77.84. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10. The firm has a market cap of $153.61 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.72 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The company 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 business posted $0.94 EPS. NextEra Energy’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict 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 given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is 60.95%.

Insider Activity

In related news, EVP Nicole J. Daggs sold 4,007 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 directly owns 15,792 shares in the company, valued at $1,193,401.44. This represents a 20.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective for the company. Scotiabank upped their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley lowered their price target on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and an average price target of $86.85.

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.