Naples Money Management LLC Takes $70,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Naples Money 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 & Exchange Commission. The institutional investor purchased 1,158 shares of the utilities provider’s stock, valued at approximately $70,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coppell Advisory Solutions LLC bought a new position in shares of NextEra Energy during the second quarter valued at $32,000. BOK Financial Private Wealth Inc. bought a new position in shares of NextEra Energy during the fourth quarter valued at $29,000. GeoWealth Management LLC lifted its holdings in shares of NextEra Energy by 124.1% during the first quarter. GeoWealth Management LLC now owns 549 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 304 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of NextEra Energy during the fourth quarter valued at $34,000. Finally, Alaska Permanent Fund Corp increased its position in NextEra Energy by 59.8% during the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 208 shares during the last quarter. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Performance

Shares of NEE stock traded up $0.30 during trading hours on Friday, reaching $64.31. 13,418,835 shares of the company traded hands, compared to its average volume of 11,871,479. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $79.78. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.55 and a quick ratio of 0.47. The company has a market cap of $131.99 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.29 and a beta of 0.51. The firm has a 50-day moving average price of $59.73 and a 200 day moving average price of $58.43.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. The company had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same period in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a yield of 3.20%. NextEra Energy’s payout ratio is currently 57.06%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEE. StockNews.com cut NextEra Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Wells Fargo & Company upped their price objective on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets reduced their price objective on NextEra Energy from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday. Barclays began coverage on NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price objective for the company. Finally, Mizuho reiterated a “buy” rating and set a $67.00 price objective (up previously from $65.00) on shares of NextEra Energy in a research report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $71.36.

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.