Castle Wealth Management LLC Buys 590 Shares of NextEra Energy, Inc. (NYSE:NEE)

Castle Wealth Management LLC boosted its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 3.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,861 shares of the utilities provider’s stock after purchasing an additional 590 shares during the quarter. Castle Wealth Management LLC’s holdings in NextEra Energy were worth $1,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bellwether Advisors LLC bought a new position in NextEra Energy during the 4th quarter valued at about $30,000. WealthTrak Capital Management LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth approximately $33,000. Copia Wealth Management acquired a new stake in shares of NextEra Energy during the fourth quarter worth approximately $36,000. Promus Capital LLC acquired a new position in shares of NextEra Energy in the 4th quarter worth approximately $45,000. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of NextEra Energy by 41.3% in the 4th quarter. Mascoma Wealth Management LLC now owns 643 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 188 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Down 0.0%

Shares of NYSE NEE opened at $73.05 on Thursday. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.10. The firm’s 50-day moving average is $70.33 and its 200-day moving average is $70.13. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $150.38 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.57 and a beta of 0.67.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the business posted $0.91 earnings per share. NextEra Energy’s revenue was up 9.0% compared to the same quarter last year. Equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy’s dividend payout ratio (DPR) is currently 85.02%.

Insider Activity

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction on Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the sale, the executive vice president directly owned 196,817 shares of the company’s stock, valued at $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on NEE shares. Guggenheim reiterated a “buy” rating and issued a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. UBS Group lowered their target price on NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, May 23rd. BMO Capital Markets reduced their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Finally, Barclays dropped their target price on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.55.

About NextEra Energy

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.