Massmutual Trust Co. FSB ADV Increases Share Holdings in NextEra Energy, Inc. (NYSE:NEE)

VaselineOctober 3, 2024

0 4 minutes read

Massmutual Trust Co. FSB ADV raised its stake in shares of NextEra Energy, Inc. (NYSE:NEE – Free Report) by 3.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 256,994 shares of the utilities provider’s stock after buying an additional 9,530 shares during the period. Massmutual Trust Co. holdings. FSB ADV’s holdings in NextEra Energy were worth $21,724,000 as of its most recent SEC filing.

Several other hedge funds have recently modified their holdings of NEE. Proffitt & Goodson Inc. boosted its position in shares of NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after buying an additional 144 shares in the last quarter. Semmax Financial Advisors Inc. boosted its position in NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after buying an additional 225 shares in the last quarter. American Capital Advisory LLC boosted its position in NextEra Energy by 74.5% in the first quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 205 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in NextEra Energy in the second quarter valued at $33,000. Finally, Neo Ivy Capital Management purchased a new position in NextEra Energy in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 78.72% of the company’s shares.

Analyst upgrades and downgrades

Several research analysts have weighed in on the company. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Evercore ISI boosted their price objective on NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 12th. Scotiabank boosted their price objective on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their price target on NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group initiated coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $83.07, based on data from MarketBeat.com.

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Insider Trading at NextEra Energy

In other news, EVP Nicole J. Daggs sold 658 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the transaction, the executive vice president now directly owns 100 shares in the company, valued at approximately $7,697. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Company insiders own 0.18% of the company’s shares.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $85.43 on Thursday. The firm has a market cap of $175.52 billion, a P/E ratio of 23.28, a P/E/G ratio of 3.08 and a beta of 0.56. The company has a quick ratio of 0.41, a current ratio of 0.49, and a debt-to-equity ratio of 1.15. The stock’s 50-day simple moving average is $80.32, and its two-hundred-day simple moving average is $73.83. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $85.75.

NextEra Energy (NYSE:NEE – Get Your Free Report ) last announced its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the company earned $0.88 EPS. As a group, equities analysts anticipate that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.515 dividend. This represents a dividend of $2.06 on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, August 30. NextEra Energy’s payout ratio is currently 56.13%.

About NextEra Energy

(Free Report)

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes and sells electricity to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, natural gas and other clean energies. It also develops, builds and operates long-term contracted assets consisting of clean energy solutions such as renewable generation facilities, battery storage projects and electric transmission facilities; sells energy products; and owns, develops, builds, manages and operates electricity generation facilities in wholesale energy markets.