Fred Alger Management LLC Has $4.68 Million Stake in NextEra Energy, Inc. (NYSE:NEE)

Fred Alger Management LLC cut its position in NextEra Energy, Inc. (NYSE:NEE) by 69.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 55,308 shares of the utilities provider’s stock after selling 124,493 shares during the quarter. Fred Alger Management LLC’s holdings in NextEra Energy were worth $4,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NEE. Border to Coast Pensions Partnership Ltd boosted its stake in NextEra Energy by 2.2% in the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock valued at $102,495,000 after buying an additional 26,270 shares in the last quarter. Swiss National Bank grew its holdings in shares of NextEra Energy by 0.4% during the 3rd quarter. Swiss National Bank now owns 6,098,200 shares of the utilities provider’s stock valued at $515,481,000 after purchasing an additional 21,400 shares during the last quarter. Dillon & Associates Inc. increased its position in NextEra Energy by 16.0% during the 3rd quarter. Dillon & Associates Inc. now owns 59,320 shares of the utilities provider’s stock worth $5,042,000 after purchasing an additional 8,184 shares in the last quarter. Magnolia Capital Advisors LLC boosted its position in NextEra Energy by 1,224.3% in the second quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock valued at $5,130,000 after buying an additional 66,982 shares in the last quarter. Finally, Raymond James & Associates boosted its position in NextEra Energy by 57.0% in the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after buying an additional 2,163,437 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NEE. Morgan Stanley dropped their price target on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Barclays lifted their price target on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price objective on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Guggenheim lifted their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Scotiabank boosted their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and an average price target of $86.85.

Insider Buying and Selling

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by insiders.

NextEra Energy Stock Performance

Shares of NEE opened at $78.67 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $80.32 and its two-hundred day simple moving average is $77.85. NextEra Energy, Inc. has a 12 month low of $53.95 and a 12 month high of $86.10. The stock has a market capitalization of $161.78 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.84 and a beta of 0.57.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.62%. NextEra Energy’s dividend payout ratio is currently 60.95%.

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.