Otter Creek Advisors LLC Takes $3.28 Million Position in NextEra Energy, Inc. (NYSE:NEE)

Otter Creek Advisors LLC bought a new stake in NextEra Energy, Inc. (NYSE:NEEFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 54,000 shares of the utilities provider’s stock, valued at approximately $3,280,000. NextEra Energy accounts for about 1.9% of Otter Creek Advisors LLC’s portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOK Financial Private Wealth Inc. acquired a new stake in NextEra Energy in the 4th quarter worth about $29,000. Stuart Chaussee & Associates Inc. grew its stake in shares of NextEra Energy by 315.4% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 410 shares in the last quarter. Valued Wealth Advisors LLC acquired a new position in shares of NextEra Energy during the fourth quarter worth $34,000. Rakuten Securities Inc. acquired a new position in shares of NextEra Energy during the fourth quarter worth $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of NextEra Energy during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NEE stock traded up $1.83 during midday trading on Friday, reaching $80.02. 16,191,972 shares of the company were exchanged, compared to its average volume of 11,740,221. The business has a 50-day moving average price of $68.78 and a two-hundred day moving average price of $62.13. The firm has a market capitalization of $164.40 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.81 and a beta of 0.50. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $80.47. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43.

NextEra Energy (NYSE:NEEGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. NextEra Energy’s revenue was down 14.7% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, June 3rd. NextEra Energy’s payout ratio is 56.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NEE. StockNews.com raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Barclays initiated coverage on shares of NextEra Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 price target on the stock. Wells Fargo & Company raised their target price on shares of NextEra Energy from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Scotiabank increased their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 22nd. Finally, BMO Capital Markets raised their target price on shares of NextEra Energy from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.93.

Check Out Our Latest Research Report on NextEra Energy

About NextEra Energy

(Free Report)

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.

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

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