HM Payson & Co. Grows Position in NextEra Energy, Inc. (NYSE:NEE)

HM Payson & Co. boosted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,183 shares of the utilities provider’s stock after acquiring an additional 2,657 shares during the quarter. HM Payson & Co.’s holdings in NextEra Energy were worth $5,172,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Solidarity Wealth LLC lifted its holdings in NextEra Energy by 5.7% during the third quarter. Solidarity Wealth LLC now owns 74,191 shares of the utilities provider’s stock worth $6,271,000 after buying an additional 4,026 shares during the period. Oak Harvest Investment Services lifted its holdings in NextEra Energy by 6.0% during the third quarter. Oak Harvest Investment Services now owns 72,080 shares of the utilities provider’s stock worth $6,093,000 after buying an additional 4,098 shares during the period. Tandem Capital Management Corp ADV lifted its holdings in NextEra Energy by 1.3% during the third quarter. Tandem Capital Management Corp ADV now owns 9,935 shares of the utilities provider’s stock worth $840,000 after buying an additional 125 shares during the period. JFS Wealth Advisors LLC lifted its holdings in NextEra Energy by 39.5% during the third quarter. JFS Wealth Advisors LLC now owns 4,388 shares of the utilities provider’s stock worth $371,000 after buying an additional 1,243 shares during the period. Finally, Diversify Wealth Management LLC purchased a new stake in NextEra Energy during the third quarter worth $331,000. Institutional investors own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Barclays increased their price objective on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. BMO Capital Markets increased their price objective on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Jefferies Financial Group assumed coverage on NextEra Energy in a report on Thursday, September 19th. They set a “hold” rating and a $87.00 price objective for the company. Bank of America increased their price objective on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada lowered NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy presently has an average rating of “Hold” and an average price target of $86.54.

NextEra Energy Price Performance

NextEra Energy stock traded down $0.12 during midday trading on Thursday, reaching $78.97. The company had a trading volume of 1,362,748 shares, compared to its average volume of 10,723,984. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The firm’s fifty day simple moving average is $82.43 and its 200-day simple moving average is $76.55. NextEra Energy, Inc. has a 12-month low of $53.81 and a 12-month high of $86.10. The company has a market capitalization of $162.25 billion, a P/E ratio of 21.56, a P/E/G ratio of 3.03 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The business had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is presently 56.13%.

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.