Resources Management Corp CT ADV Makes New $16.19 Million Investment in NextEra Energy Inc (NYSE:NEE)

Resources Management Corp CT ADV acquired a new stake in NextEra Energy Inc (NYSE:NEE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 69,478 shares of the utilities provider’s stock, valued at approximately $16,188,000. NextEra Energy accounts for approximately 3.0% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 5th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. TRUE Private Wealth Advisors purchased a new position in shares of NextEra Energy in the second quarter valued at approximately $25,000. Krane Funds Advisors LLC purchased a new stake in shares of NextEra Energy during the second quarter worth $25,000. First PREMIER Bank acquired a new stake in shares of NextEra Energy in the third quarter valued at about $33,000. Vista Private Wealth Partners. LLC acquired a new stake in shares of NextEra Energy in the third quarter valued at about $36,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of NextEra Energy in the third quarter worth about $37,000. 77.03% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on NEE. JPMorgan Chase & Co. boosted their price target on shares of NextEra Energy from $214.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group increased their price objective on shares of NextEra Energy from $240.00 to $250.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Co raised their target price on shares of NextEra Energy from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley boosted their target price on NextEra Energy from $241.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, ValuEngine lowered NextEra Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. NextEra Energy presently has a consensus rating of “Buy” and an average target price of $231.67.

In other news, CEO Eric E. Silagy sold 14,723 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $225.56, for a total value of $3,320,919.88. Following the transaction, the chief executive officer now owns 42,884 shares of the company’s stock, valued at approximately $9,672,915.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sherry S. Barrat sold 4,700 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $218.57, for a total value of $1,027,279.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,302 shares of company stock valued at $5,437,068 in the last 90 days. Insiders own 0.48% of the company’s stock.

Shares of NEE traded up $2.03 during mid-day trading on Wednesday, reaching $234.26. The stock had a trading volume of 1,634,726 shares, compared to its average volume of 1,963,294. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.58 and a quick ratio of 0.47. NextEra Energy Inc has a 52-week low of $164.78 and a 52-week high of $239.89. The business’s fifty day moving average is $231.82 and its 200 day moving average is $218.18. The firm has a market cap of $114.29 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.50 and a beta of 0.15.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, October 22nd. The utilities provider reported $2.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.12. NextEra Energy had a net margin of 16.92% and a return on equity of 10.59%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the business earned $2.18 earnings per share. NextEra Energy’s revenue was up 26.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that NextEra Energy Inc will post 8.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.13%. NextEra Energy’s dividend payout ratio is currently 64.94%.

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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Institutional Ownership by Quarter for NextEra Energy (NYSE:NEE)

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