Sovereign s Capital Management LLC Purchases Shares of 12,056 NextEra Energy, Inc. (NYSE:NEE)

Sovereign s Capital Management LLC purchased a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,056 shares of the utilities provider’s stock, valued at approximately $864,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEE. Sugar Maple Asset Management LLC purchased a new stake in shares of NextEra Energy during the fourth quarter valued at approximately $28,000. Bellwether Advisors LLC purchased a new stake in shares of NextEra Energy during the fourth quarter valued at approximately $30,000. WealthTrak Capital Management LLC purchased a new stake in shares of NextEra Energy during the fourth quarter valued at approximately $33,000. Luken Investment Analytics LLC purchased a new stake in shares of NextEra Energy during the fourth quarter valued at approximately $36,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of NextEra Energy during the fourth quarter valued at approximately $44,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Stock Up 0.6%

NEE stock opened at $74.97 on Monday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10. The firm has a fifty day moving average price of $68.72 and a two-hundred day moving average price of $71.20. The firm has a market cap of $154.34 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.45 and a beta of 0.69.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The company had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

Insider Buying and Selling

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total value of $1,657,880.00. Following the sale, the executive vice president now directly owns 196,817 shares in the company, valued at approximately $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NEE. Morgan Stanley reiterated an “overweight” rating on shares of NextEra Energy in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Evercore ISI dropped their price target on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $89.00 price target on shares of NextEra Energy in a research note on Thursday, March 20th. Finally, Jefferies Financial Group dropped their price target on shares of NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, NextEra Energy has an average rating of “Hold” and a consensus target price of $83.46.

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.