Focus Partners Wealth Boosts Stock Position in NextEra Energy, Inc. $NEE

Focus Partners Wealth increased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 5.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 926,777 shares of the utilities provider’s stock after purchasing an additional 51,598 shares during the period. Focus Partners Wealth’s holdings in NextEra Energy were worth $69,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NEE. Goodman Advisory Group LLC purchased a new position in shares of NextEra Energy in the 2nd quarter worth $25,000. Tripletail Wealth Management LLC bought a new stake in shares of NextEra Energy in the 3rd quarter worth about $25,000. Howard Hughes Medical Institute purchased a new stake in shares of NextEra Energy during the 2nd quarter valued at about $31,000. Rexford Capital Inc. bought a new position in shares of NextEra Energy in the 2nd quarter valued at about $34,000. Finally, Abound Wealth Management lifted its holdings in shares of NextEra Energy by 108.2% in the 3rd quarter. Abound Wealth Management now owns 456 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

NEE stock opened at $92.87 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.35. The business’s fifty day simple moving average is $88.65 and its two-hundred day simple moving average is $83.10. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $95.91. The firm has a market cap of $193.49 billion, a price-to-earnings ratio of 28.23 and a beta of 0.76.

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

NextEra Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEE. BMO Capital Markets set a $95.00 price objective on NextEra Energy in a research note on Thursday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $106.00 price objective on shares of NextEra Energy in a research note on Friday, February 20th. The Goldman Sachs Group boosted their target price on NextEra Energy from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. Erste Group Bank upgraded NextEra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, February 18th. Finally, HSBC raised their price target on NextEra Energy from $96.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.16.

Insider Buying and Selling

In other news, EVP Terrell Kirk Crews II sold 19,672 shares of NextEra Energy stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $90.27, for a total transaction of $1,775,791.44. Following the completion of the sale, the executive vice president owned 73,857 shares of the company’s stock, valued at approximately $6,667,071.39. The trade was a 21.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John W. Ketchum sold 99,603 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $89.34, for a total value of $8,898,532.02. Following the completion of the sale, the chief executive officer owned 305,933 shares of the company’s stock, valued at $27,332,054.22. The trade was a 24.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 190,816 shares of company stock worth $17,075,619 over the last 90 days. Corporate insiders own 0.20% of the company’s stock.

About NextEra Energy

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.