Provence Wealth Management Group Grows Stake in NextEra Energy, Inc. (NYSE:NEE)

Provence Wealth Management Group boosted its position in NextEra Energy, Inc. (NYSE:NEE) by 1,538.2% in the 4th quarter, Holdings Channel reports. The firm owned 6,258 shares of the utilities provider’s stock after buying an additional 5,876 shares during the quarter. Provence Wealth Management Group’s holdings in NextEra Energy were worth $380,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Avitas Wealth Management LLC boosted its position in NextEra Energy by 2.9% during the fourth quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after purchasing an additional 1,057 shares in the last quarter. Stiles Financial Services Inc increased its position in shares of NextEra Energy by 9.0% in the fourth quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock valued at $2,137,000 after buying an additional 2,899 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in NextEra Energy by 1.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after acquiring an additional 6,325 shares during the period. Asio Capital LLC acquired a new position in shares of NextEra Energy during the 4th quarter worth about $2,701,000. Finally, Robertson Stephens Wealth Management LLC boosted its stake in shares of NextEra Energy by 7.3% in the third quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock worth $1,015,000 after acquiring an additional 1,211 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Up 1.9 %

NEE traded up $1.29 on Friday, reaching $70.14. 12,687,503 shares of the company traded hands, compared to its average volume of 11,442,457. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $78.53. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. The company has a market cap of $144.10 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 2.53 and a beta of 0.50. The stock’s 50 day moving average price is $62.00 and its 200-day moving average price is $59.58.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period in the prior year, the firm earned $0.84 EPS. NextEra Energy’s quarterly revenue was down 14.7% compared to the same quarter last year. On average, sell-side analysts expect that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.515 per share. The ex-dividend date was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com raised NextEra Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Guggenheim increased their target price on shares of NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Scotiabank lifted their price objective on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their price target on shares of NextEra Energy from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company increased their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.50.

NextEra Energy Company 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.