Allianz SE Invests $12.46 Million in NextEra Energy, Inc. (NYSE:NEE)

Allianz SE purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 173,680 shares of the utilities provider’s stock, valued at approximately $12,463,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NEE. Burkett Financial Services LLC increased its stake 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 purchasing an additional 332 shares during the period. Sugar Maple Asset Management LLC purchased a new stake in NextEra Energy during the fourth quarter worth about $28,000. Quarry LP acquired a new stake in shares of NextEra Energy during the 3rd quarter valued at approximately $33,000. WealthTrak Capital Management LLC purchased a new stake in shares of NextEra Energy during the 4th quarter worth approximately $33,000. Finally, Luken Investment Analytics LLC acquired a new stake in shares of NextEra Energy in the 4th quarter worth approximately $36,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

NextEra Energy Stock Up 0.6 %

Shares of NextEra Energy stock opened at $70.44 on Friday. The company has a market capitalization of $144.90 billion, a P/E ratio of 20.90, a PEG ratio of 2.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The business’s fifty day moving average price is $70.67 and its two-hundred day moving average price is $75.19. NextEra Energy, Inc. has a 1-year low of $61.31 and a 1-year high of $86.10.

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

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $0.5665 per share. The ex-dividend date was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a yield of 3.22%. NextEra Energy’s payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

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