NextEra Energy (NYSE:NEE) Posts Earnings Results, Beats Expectations By $0.08 EPS

NextEra Energy (NYSE:NEE – Get Rating) issued its quarterly earnings data on Friday. The utilities provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08, RTT News reports. NextEra Energy had a net margin of 14.75% and a return on equity of 11.97%. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the company earned $0.71 EPS. The business’s revenue was up 32.0% on a year-over-year basis.

NextEra Energy Stock Up 1.7 %

Shares of NEE opened at $80.25 on Monday. The firm has a market cap of $157.65 billion, a P/E ratio of 61.26, a price-to-earnings-growth ratio of 3.03 and a beta of 0.45. NextEra Energy has a 12-month low of $67.22 and a 12-month high of $93.73. The company’s 50-day moving average price is $76.45 and its 200 day moving average price is $78.00. The company has a current ratio of 0.53, a quick ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a $0.425 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $1.70 annualized dividend and a yield of 2.12%. NextEra Energy’s dividend payout ratio (DPR) is currently 129.77%.

Analysts Set New Price Targets

NEE has been the topic of a number of research analyst reports. Mizuho dropped their price target on shares of NextEra Energy from $88.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 25th. BMO Capital Markets lowered their target price on shares of NextEra Energy from $105.00 to $93.00 in a research note on Monday, June 13th. TheStreet cut shares of NextEra Energy from a “b” rating to a “c+” rating in a research note on Thursday, April 21st. Barclays lowered their target price on shares of NextEra Energy from $90.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, StockNews.com initiated coverage on shares of NextEra Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.33.

Insider Activity at NextEra Energy

In related news, Director Kirk S. Hachigian acquired 10,000 shares of NextEra Energy stock in a transaction that occurred on Tuesday, May 3rd. The shares were purchased at an average cost of $70.19 per share, for a total transaction of $701,900.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $350,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kirk S. Hachigian acquired 10,000 shares of NextEra Energy stock in a transaction that occurred on Tuesday, May 3rd. The shares were purchased at an average cost of $70.19 per share, for a total transaction of $701,900.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $350,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Ketchum acquired 12,909 shares of NextEra Energy stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average price of $78.33 per share, for a total transaction of $1,011,161.97. Following the completion of the acquisition, the chief executive officer now owns 132,894 shares in the company, valued at approximately $10,409,587.02. The disclosure for this purchase can be found here. 0.43% of the stock is owned by insiders.

Institutional Trading of NextEra Energy

Several hedge funds have recently made changes to their positions in NEE. United Bank lifted its holdings in NextEra Energy by 9.8% during the 1st quarter. United Bank now owns 9,966 shares of the utilities provider’s stock worth $844,000 after buying an additional 891 shares in the last quarter. LSV Asset Management lifted its holdings in NextEra Energy by 9.2% during the 1st quarter. LSV Asset Management now owns 32,180 shares of the utilities provider’s stock worth $2,726,000 after buying an additional 2,700 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in NextEra Energy by 11.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 15,731 shares of the utilities provider’s stock worth $1,333,000 after buying an additional 1,587 shares in the last quarter. Covestor Ltd lifted its holdings in NextEra Energy by 59.1% during the 1st quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock worth $74,000 after buying an additional 326 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of NextEra Energy in the 1st quarter valued at $793,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

About NextEra Energy

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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, coal, and natural gas facilities. 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.