Pettee Investors Inc. Makes New $642,000 Investment in NextEra Energy, Inc. $NEE

Pettee Investors Inc. bought a new position in NextEra Energy, Inc. (NYSE:NEE) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 8,503 shares of the utilities provider’s stock, valued at approximately $642,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of NextEra Energy during the 2nd quarter worth approximately $2,375,545,000. Vanguard Group Inc. boosted its position in shares of NextEra Energy by 2.7% during the second quarter. Vanguard Group Inc. now owns 212,877,021 shares of the utilities provider’s stock valued at $14,777,923,000 after purchasing an additional 5,554,603 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in NextEra Energy by 1,765.3% in the third quarter. Assenagon Asset Management S.A. now owns 3,968,305 shares of the utilities provider’s stock worth $299,567,000 after purchasing an additional 3,755,563 shares during the period. Schroder Investment Management Group grew its stake in NextEra Energy by 18.7% in the second quarter. Schroder Investment Management Group now owns 10,796,329 shares of the utilities provider’s stock worth $749,481,000 after purchasing an additional 1,701,648 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its holdings in NextEra Energy by 181.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,185,513 shares of the utilities provider’s stock worth $151,718,000 after purchasing an additional 1,410,200 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Activity at NextEra Energy

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the transaction, the chief executive officer directly owned 162,693 shares of the company’s stock, valued at $13,651,569.63. This represents a 47.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ronald R. Reagan sold 10,826 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $85.00, for a total value of $920,210.00. Following the completion of the transaction, the executive vice president directly owned 15,643 shares in the company, valued at approximately $1,329,655. This represents a 40.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of research reports. Weiss Ratings restated a “buy (b-)” rating on shares of NextEra Energy in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. HSBC boosted their price objective on shares of NextEra Energy from $94.00 to $95.00 in a research note on Monday, November 10th. BTIG Research reaffirmed a “buy” rating and set a $103.00 target price on shares of NextEra Energy in a research note on Wednesday, January 28th. Finally, Evercore ISI reiterated an “outperform” rating and set a $93.00 target price on shares of NextEra Energy in a report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.95.

NextEra Energy Trading Down 1.6%

NYSE:NEE opened at $86.51 on Tuesday. The stock has a market cap of $180.16 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 2.72 and a beta of 0.75. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.35. The company’s 50 day moving average price is $82.57 and its 200-day moving average price is $79.16. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $89.19.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. NextEra Energy had a return on equity of 12.18% and a net margin of 24.93%.The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $7.07 billion. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.