Pinnacle Financial Partners Inc Acquires 302 Shares of NextEra Energy, Inc. (NYSE:NEE)

Pinnacle Financial Partners Inc grew its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,580 shares of the utilities provider’s stock after buying an additional 302 shares during the period. Pinnacle Financial Partners Inc’s holdings in NextEra Energy were worth $5,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Orion Portfolio Solutions LLC lifted its position in shares of NextEra Energy by 34.0% in the first quarter. Orion Portfolio Solutions LLC now owns 115,131 shares of the utilities provider’s stock worth $7,358,000 after buying an additional 29,189 shares in the last quarter. Leo Wealth LLC purchased a new stake in shares of NextEra Energy during the 1st quarter worth approximately $229,000. Trillium Asset Management LLC grew its holdings in shares of NextEra Energy by 633.5% in the first quarter. Trillium Asset Management LLC now owns 49,671 shares of the utilities provider’s stock valued at $3,174,000 after purchasing an additional 42,899 shares in the last quarter. Brighton Jones LLC increased its position in NextEra Energy by 5.8% in the first quarter. Brighton Jones LLC now owns 29,849 shares of the utilities provider’s stock worth $1,908,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Banco BTG Pactual S.A. purchased a new stake in NextEra Energy during the first quarter valued at $952,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NEE. Jefferies Financial Group started 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. Wells Fargo & Company boosted their price objective on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Barclays raised their price objective 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. BMO Capital Markets boosted their target price on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of “Hold” and a consensus target price of $86.54.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the transaction, the executive vice president now owns 15,792 shares of the company’s stock, valued at $1,193,401.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

Shares of NEE stock opened at $74.24 on Thursday. The company has a market capitalization of $152.67 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.68 and a beta of 0.57. The company’s 50-day simple moving average is $81.84 and its two-hundred day simple moving average is $77.39. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33.

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

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.77%. 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.