DnB Asset Management AS Has $92.44 Million Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

DnB Asset Management AS raised its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,289,368 shares of the utilities provider’s stock after purchasing an additional 147,437 shares during the period. DnB Asset Management AS’s holdings in NextEra Energy were worth $92,435,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Burkett Financial Services LLC grew its position in NextEra Energy by 1,229.6% in the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 332 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of NextEra Energy during the 4th quarter valued at approximately $28,000. Quarry LP acquired a new position in NextEra Energy during the 3rd quarter worth approximately $33,000. Luken Investment Analytics LLC bought a new position in NextEra Energy in the 4th quarter valued at approximately $36,000. Finally, Midwest Capital Advisors LLC acquired a new stake in NextEra Energy in the fourth quarter valued at approximately $44,000. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE opened at $70.08 on Friday. The firm’s fifty day simple moving average is $70.68 and its two-hundred day simple moving average is $75.27. NextEra Energy, Inc. has a 12 month low of $61.31 and a 12 month high of $86.10. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $144.15 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s payout ratio is presently 67.06%.

Insider Activity

In related news, CAO James Michael May sold 2,383 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NEE shares. JPMorgan Chase & Co. increased their price target on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 11th. Jefferies Financial Group dropped their target price on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. BMO Capital Markets boosted their price target on NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Scotiabank upped their price objective on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Finally, Guggenheim reiterated a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a research report on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.92.

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.