NextEra Energy Inc (NYSE:NEE) announced a quarterly dividend on Thursday, May 21st, RTT News reports. Shareholders of record on Tuesday, June 2nd will be paid a dividend of 1.40 per share by the utilities provider on Monday, June 15th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.45%.
NextEra Energy has raised its dividend by an average of 12.5% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. NextEra Energy has a payout ratio of 61.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NextEra Energy to earn $9.88 per share next year, which means the company should continue to be able to cover its $5.60 annual dividend with an expected future payout ratio of 56.7%.
Shares of NYSE:NEE traded down $4.43 on Thursday, reaching $228.36. The company had a trading volume of 821,050 shares, compared to its average volume of 2,582,036. NextEra Energy has a twelve month low of $174.80 and a twelve month high of $283.35. The stock has a 50-day moving average price of $234.20 and a 200 day moving average price of $242.12. The stock has a market capitalization of $113.94 billion, a P/E ratio of 32.08, a P/E/G ratio of 3.30 and a beta of 0.20. The company has a quick ratio of 0.61, a current ratio of 0.71 and a debt-to-equity ratio of 1.01.
NEE has been the subject of several research analyst reports. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating and set a $282.00 price objective for the company. in a research report on Wednesday, January 29th. Credit Suisse Group cut their price objective on NextEra Energy from $256.00 to $252.00 and set a “neutral” rating for the company in a research report on Friday, April 17th. BMO Capital Markets initiated coverage on NextEra Energy in a research report on Wednesday, February 19th. They set an “outperform” rating and a $290.00 price objective for the company. Barclays cut their price objective on NextEra Energy from $269.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, March 26th. Finally, Morgan Stanley lowered their price target on NextEra Energy from $246.00 to $237.00 and set an “equal weight” rating on the stock in a research note on Friday, May 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $251.07.
In other news, CEO James L. Robo sold 70,968 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $227.05, for a total value of $16,113,284.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James Lawrence Camaren acquired 1,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of $212.40 per share, for a total transaction of $212,400.00. Following the completion of the purchase, the director now owns 35,330 shares in the company, valued at approximately $7,504,092. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 90,639 shares of company stock worth $20,863,319. Corporate insiders own 0.40% of the company’s stock.
About NextEra Energy
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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