Pacific Point Advisors LLC Takes $1.14 Million Position in NextEra Energy, Inc. $NEE

Pacific Point Advisors LLC bought a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 14,239 shares of the utilities provider’s stock, valued at approximately $1,143,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tripletail Wealth Management LLC purchased a new position in shares of NextEra Energy during the 3rd quarter valued at approximately $25,000. Goodman Advisory Group LLC purchased a new position in shares of NextEra Energy during the 2nd quarter valued at approximately $25,000. Strive Asset Management LLC purchased a new position in shares of NextEra Energy during the 3rd quarter valued at approximately $29,000. Lodestone Wealth Management LLC purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $33,000. Finally, Abound Wealth Management lifted its position in shares of NextEra Energy by 108.2% during the 3rd quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock valued at $34,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Up 0.8%

Shares of NEE stock opened at $93.50 on Wednesday. The stock’s fifty day moving average is $91.62 and its two-hundred day moving average is $85.45. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.60. The firm has a market capitalization of $194.82 billion, a P/E ratio of 28.42 and a beta of 0.74. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $95.91.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, January 27th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. NextEra Energy had a return on equity of 12.18% and a net margin of 24.93%.The business had revenue of $6.50 billion for the quarter, compared to analyst estimates of $7.07 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. Research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 27th were issued a dividend of $0.6232 per share. The ex-dividend date was Friday, February 27th. This represents a $2.49 annualized dividend and a dividend yield of 2.7%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.57. NextEra Energy’s payout ratio is presently 75.68%.

Wall Street Analysts Forecast Growth

NEE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Seaport Research Partners decreased their target price on NextEra Energy from $56.00 to $55.00 and set a “sell” rating on the stock in a research report on Monday, February 2nd. Wall Street Zen lowered NextEra Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Jefferies Financial Group raised their price objective on NextEra Energy from $87.00 to $92.00 and gave the company a “hold” rating in a report on Tuesday, March 31st. Finally, UBS Group raised their price objective on NextEra Energy from $91.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.94.

Insider Buying and Selling at NextEra Energy

In other news, EVP Ronald R. Reagan sold 18,620 shares of NextEra Energy stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total transaction of $1,675,800.00. Following the transaction, the executive vice president owned 9,643 shares in the company, valued at $867,870. The trade was a 65.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer James Michael May sold 7,161 shares of NextEra Energy stock in a transaction on Monday, March 9th. The stock was sold at an average price of $90.27, for a total value of $646,423.47. Following the transaction, the treasurer owned 26,719 shares in the company, valued at approximately $2,411,924.13. This represents a 21.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 190,816 shares of company stock worth $17,075,619. Corporate insiders own 0.20% of the company’s stock.

NextEra Energy Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.