Castle Wealth Management LLC Acquires 918 Shares of NextEra Energy, Inc. $NEE

Castle Wealth Management LLC increased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 4.6% in the 2nd quarter, Holdings Channel reports. The fund owned 20,779 shares of the utilities provider’s stock after buying an additional 918 shares during the quarter. Castle Wealth Management LLC’s holdings in NextEra Energy were worth $1,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NEE. Activest Wealth Management increased its stake in NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in NextEra Energy during the 2nd quarter valued at about $25,000. 1 North Wealth Services LLC bought a new stake in NextEra Energy during the 1st quarter valued at about $26,000. Nova Wealth Management Inc. bought a new stake in NextEra Energy during the 1st quarter valued at about $32,000. Finally, IMA Advisory Services Inc. bought a new stake in NextEra Energy during the 1st quarter valued at about $35,000. 78.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NextEra Energy

In related news, EVP Robert Coffey sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $71.84, for a total value of $538,800.00. Following the transaction, the executive vice president owned 26,539 shares of the company’s stock, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Dunne sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the transaction, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,528 shares of company stock worth $2,277,773. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cowen assumed coverage on shares of NextEra Energy in a research note on Wednesday, October 15th. They set a “buy” rating for the company. Melius Research upgraded shares of NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. BMO Capital Markets raised their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Melius began coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target on the stock. Finally, TD Cowen began coverage on shares of NextEra Energy in a report on Thursday, October 16th. They set a “buy” rating and a $98.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $88.38.

NextEra Energy Stock Performance

Shares of NYSE NEE opened at $82.79 on Thursday. The firm’s 50-day moving average price is $76.24 and its 200-day moving average price is $72.51. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36. The company has a market cap of $170.48 billion, a PE ratio of 28.95, a PEG ratio of 2.84 and a beta of 0.66. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.74.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 earnings per share. As a group, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

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.