Orrstown Financial Services Inc. Takes $230,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Orrstown Financial Services Inc. bought a new stake in NextEra Energy, Inc. (NYSE:NEE) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 2,723 shares of the utilities provider’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&G Plc acquired a new position in shares of NextEra Energy during the first quarter worth approximately $303,065,000. International Assets Investment Management LLC grew its holdings in shares of NextEra Energy by 8,641.5% during the third quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock valued at $326,388,000 after buying an additional 3,817,037 shares during the last quarter. Zimmer Partners LP increased its position in shares of NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after acquiring an additional 2,703,200 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of NextEra Energy by 4,058.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after acquiring an additional 2,309,876 shares during the last quarter. Finally, Raymond James & Associates lifted its position in NextEra Energy by 57.0% in the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after acquiring an additional 2,163,437 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the sale, the executive vice president now directly owns 100 shares in the company, valued at $7,697. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. BMO Capital Markets raised their price objective on NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Bank of America increased their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.54.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $82.87 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The stock has a fifty day simple moving average of $82.43 and a two-hundred day simple moving average of $76.41. NextEra Energy, Inc. has a 1-year low of $53.81 and a 1-year high of $86.10. The firm has a market cap of $170.26 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. Analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.49%. NextEra Energy’s payout ratio is 56.13%.

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.