SlateStone Wealth LLC Grows Holdings in NextEra Energy, Inc. (NYSE:NEE)

SlateStone Wealth LLC grew its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,806 shares of the utilities provider’s stock after buying an additional 1,357 shares during the quarter. SlateStone Wealth LLC’s holdings in NextEra Energy were worth $4,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NEE. International Assets Investment Management LLC lifted its stake in NextEra Energy by 10.3% during the third quarter. International Assets Investment Management LLC now owns 26,834 shares of the utilities provider’s stock worth $1,609,000 after purchasing an additional 2,505 shares during the last quarter. Legacy Capital Wealth Partners LLC bought a new position in NextEra Energy during the third quarter worth $267,000. Douglas Lane & Associates LLC lifted its stake in NextEra Energy by 16.7% during the third quarter. Douglas Lane & Associates LLC now owns 10,866 shares of the utilities provider’s stock worth $623,000 after purchasing an additional 1,551 shares during the last quarter. Viking Fund Management LLC lifted its stake in NextEra Energy by 35.3% in the third quarter. Viking Fund Management LLC now owns 115,000 shares of the utilities provider’s stock valued at $6,588,000 after buying an additional 30,000 shares during the last quarter. Finally, Community Trust & Investment Co. lifted its stake in NextEra Energy by 2.9% in the third quarter. Community Trust & Investment Co. now owns 111,441 shares of the utilities provider’s stock valued at $6,384,000 after buying an additional 3,093 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NEE has been the topic of a number of recent research reports. Morgan Stanley raised their target price on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday. Barclays initiated coverage on NextEra Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 target price on the stock. Bank of America raised their target price on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday. Mizuho raised their target price on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.21.

NextEra Energy Price Performance

NYSE:NEE opened at $65.58 on Wednesday. The business’s 50-day moving average price is $60.26 and its 200 day moving average price is $58.83. The firm has a market cap of $134.60 billion, a P/E ratio of 18.33, a PEG ratio of 2.35 and a beta of 0.51. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $79.10. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.06.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. NextEra Energy’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.14%. NextEra Energy’s dividend payout ratio (DPR) is 57.06%.

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.