Peapack Gladstone Financial Corp Grows Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Peapack Gladstone Financial Corp lifted its stake in NextEra Energy, Inc. (NYSE:NEE) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 465,438 shares of the utilities provider’s stock after acquiring an additional 2,490 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in NextEra Energy were worth $39,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in NextEra Energy by 2.0% in the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock valued at $3,571,650,000 after purchasing an additional 820,704 shares during the period. Legal & General Group Plc lifted its holdings in NextEra Energy by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after buying an additional 143,748 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NextEra Energy by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,284,785 shares of the utilities provider’s stock worth $1,122,963,000 after buying an additional 86,758 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in NextEra Energy by 5.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,630,775 shares of the utilities provider’s stock worth $729,559,000 after buying an additional 452,590 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in NextEra Energy by 14.3% during the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock worth $575,573,000 after buying an additional 851,873 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

Shares of NEE stock opened at $73.22 on Friday. The stock has a market capitalization of $150.57 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.56. NextEra Energy, Inc. has a 52-week low of $53.95 and a 52-week high of $86.10. The stock’s 50-day moving average price is $78.61 and its 200 day moving average price is $77.76. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm 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%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 2.81%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is 60.95%.

Insiders Place Their Bets

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total transaction of $302,808.99. Following the transaction, the executive vice president now owns 15,792 shares in the company, valued at approximately $1,193,401.44. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NEE shares. Scotiabank lifted their price target on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Thursday. Wells Fargo & Company lifted their price target on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. Barclays lifted their target price on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets lifted their target price on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $87.15.

NextEra Energy Company 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.