Pinnacle Wealth Management Group Inc. Boosts Holdings in NextEra Energy, Inc. $NEE

Pinnacle Wealth Management Group Inc. boosted its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 30.0% in the second quarter, HoldingsChannel reports. The fund owned 5,679 shares of the utilities provider’s stock after purchasing an additional 1,309 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in NextEra Energy were worth $394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NEE. Avity Investment Management Inc. increased its stake in NextEra Energy by 1.7% during the 2nd quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider’s stock valued at $35,162,000 after purchasing an additional 8,565 shares in the last quarter. Integrity Alliance LLC. increased its stake in NextEra Energy by 41.8% during the 1st quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider’s stock valued at $1,779,000 after purchasing an additional 7,401 shares in the last quarter. Elyxium Wealth LLC acquired a new position in NextEra Energy during the 1st quarter valued at approximately $783,000. Czech National Bank increased its stake in NextEra Energy by 6.5% during the 2nd quarter. Czech National Bank now owns 503,202 shares of the utilities provider’s stock valued at $34,932,000 after purchasing an additional 30,878 shares in the last quarter. Finally, Bowman & Co S.C. increased its stake in NextEra Energy by 2.0% during the 2nd quarter. Bowman & Co S.C. now owns 13,452 shares of the utilities provider’s stock valued at $933,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Up 1.4%

NYSE:NEE opened at $84.42 on Friday. The company’s fifty day moving average price is $76.64 and its 200-day moving average price is $72.78. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.74. The firm has a market capitalization of $173.85 billion, a P/E ratio of 29.52, a PEG ratio of 2.81 and a beta of 0.66. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results 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. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The firm had revenue of $6.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the firm posted $0.96 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a dividend of $0.5665 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. NextEra Energy’s dividend payout ratio is 79.37%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Mizuho set a $78.00 price target on shares of NextEra Energy in a research note on Thursday, August 21st. New Street Research set a $84.00 price target on shares of NextEra Energy in a research note on Monday, October 13th. Morgan Stanley restated an “overweight” rating and set a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Melius assumed coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target on the stock. Finally, TD Cowen assumed coverage on shares of NextEra Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $98.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $88.38.

Insider Activity

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

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.