NextEra Energy Inc (NYSE:NEE) announced a quarterly dividend on Friday, February 16th, RTT News reports. Investors of record on Tuesday, February 27th will be given a dividend of 1.11 per share by the utilities provider on Thursday, March 15th. This represents a $4.44 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.98.
NextEra Energy has raised its dividend payment by an average of 21.8% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. NextEra Energy has a dividend payout ratio of 58.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NextEra Energy to earn $8.30 per share next year, which means the company should continue to be able to cover its $3.93 annual dividend with an expected future payout ratio of 47.3%.
Shares of NextEra Energy (NEE) opened at $153.81 on Wednesday. NextEra Energy has a twelve month low of $126.00 and a twelve month high of $159.64. The firm has a market capitalization of $73,467.40, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.58 and a beta of 0.28. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 1.07.
NEE has been the subject of a number of recent analyst reports. Bank of America initiated coverage on NextEra Energy in a report on Tuesday, October 24th. They set a “buy” rating and a $166.00 price target for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $156.00 price target on shares of NextEra Energy in a report on Tuesday, November 7th. Argus reaffirmed a “buy” rating and set a $173.00 price target on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on NextEra Energy in a report on Thursday, December 7th. They set an “outperform” rating and a $173.00 price target for the company. Finally, Zacks Investment Research raised NextEra Energy from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a report on Tuesday, December 12th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $161.38.
In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 42,372 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the transaction, the chief executive officer now directly owns 121,958 shares in the company, valued at approximately $19,202,287.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Armando Pimentel, Jr. sold 9,250 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $151.83, for a total value of $1,404,427.50. The disclosure for this sale can be found here. Insiders sold a total of 54,466 shares of company stock worth $8,515,780 over the last quarter. Corporate insiders own 0.53% of the company’s stock.
NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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