Peapack Gladstone Financial Corp Raises Holdings in NextEra Energy, Inc. (NYSE:NEE)

Peapack Gladstone Financial Corp lifted its stake in NextEra Energy, Inc. (NYSE:NEE) by 0.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 465,438 shares of the utilities provider’s stock after buying an additional 2,490 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in NextEra Energy were worth $39,343,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Border to Coast Pensions Partnership Ltd boosted its position in NextEra Energy by 2.2% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock worth $102,495,000 after purchasing an additional 26,270 shares in the last quarter. Swiss National Bank lifted its position in shares of NextEra Energy by 0.4% in the third quarter. Swiss National Bank now owns 6,098,200 shares of the utilities provider’s stock valued at $515,481,000 after acquiring an additional 21,400 shares in the last quarter. Dillon & Associates Inc. lifted its position in shares of NextEra Energy by 16.0% in the third quarter. Dillon & Associates Inc. now owns 59,320 shares of the utilities provider’s stock valued at $5,042,000 after acquiring an additional 8,184 shares in the last quarter. Magnolia Capital Advisors LLC lifted its position in shares of NextEra Energy by 1,224.3% in the second quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock valued at $5,130,000 after acquiring an additional 66,982 shares in the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of NextEra Energy in the third quarter valued at approximately $25,801,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Transactions at NextEra Energy

In other news, EVP Nicole J. Daggs sold 4,007 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the transaction, the executive vice president now directly owns 15,792 shares in the company, valued at $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NEE shares. Guggenheim increased their price target on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley cut their price target on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. BMO Capital Markets increased their price target on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Hold” and a consensus target price of $87.15.

NextEra Energy Price Performance

NEE stock opened at $73.22 on Friday. The business has a fifty day moving average of $78.61 and a two-hundred day moving average of $77.76. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. The stock has a market cap of $150.57 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.56. NextEra Energy, Inc. has a 52-week low of $53.95 and a 52-week high of $86.10.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The business had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. During the same period last year, the business posted $0.94 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.81%. NextEra Energy’s dividend payout ratio is currently 60.95%.

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.