Wealth Management Associates Inc. Boosts Stake in NextEra Energy, Inc. $NEE

Wealth Management Associates Inc. grew its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 5,857 shares of the utilities provider’s stock after purchasing an additional 505 shares during the period. Wealth Management Associates Inc.’s holdings in NextEra Energy were worth $407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its holdings in shares of NextEra Energy by 79.7% during the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 157 shares during the period. Harbor Asset Planning Inc. purchased a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $25,000. 1 North Wealth Services LLC purchased a new stake in shares of NextEra Energy in the 1st quarter worth approximately $26,000. Quaker Wealth Management LLC grew its stake in shares of NextEra Energy by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock worth $27,000 after buying an additional 772 shares during the last quarter. Finally, Nova Wealth Management Inc. purchased a new stake in shares of NextEra Energy in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

Insider Activity

In related news, EVP Michael Dunne sold 10,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the transaction, the executive vice president directly owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Lemasney sold 846 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total value of $63,365.40. Following the completion of the transaction, the executive vice president directly owned 9,267 shares in the company, valued at approximately $694,098.30. This represents a 8.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 23,028 shares of company stock valued at $1,738,973 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI restated an “outperform” rating and issued a $93.00 price target on shares of NextEra Energy in a research note on Tuesday. BMO Capital Markets upped their price target on NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Weiss Ratings restated a “hold (c+)” rating on shares of NextEra Energy in a research note on Tuesday, October 14th. Morgan Stanley restated an “overweight” rating and issued a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Finally, Melius started coverage on NextEra Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $89.13.

NextEra Energy Stock Performance

NEE stock opened at $83.58 on Wednesday. The stock has a market capitalization of $172.12 billion, a PE ratio of 29.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.66. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $87.53. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. The stock’s 50 day simple moving average is $76.98 and its 200 day simple moving average is $73.12.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. As a group, research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

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

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.