Providence Wealth Advisors LLC Buys 20,271 Shares of NextEra Energy, Inc. (NYSE:NEE)

Providence Wealth Advisors LLC grew its stake in NextEra Energy, Inc. (NYSE:NEE) by 111.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,530 shares of the utilities provider’s stock after purchasing an additional 20,271 shares during the period. NextEra Energy makes up approximately 2.4% of Providence Wealth Advisors LLC’s portfolio, making the stock its 10th biggest holding. Providence Wealth Advisors LLC’s holdings in NextEra Energy were worth $3,257,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of NextEra Energy by 8,641.5% in the third quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock valued at $326,388,000 after buying an additional 3,817,037 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in NextEra Energy by 4,058.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after purchasing an additional 2,309,876 shares in the last quarter. Raymond James & Associates boosted its position in NextEra Energy by 57.0% during the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after purchasing an additional 2,163,437 shares in the last quarter. LGT Group Foundation boosted its position in NextEra Energy by 962.8% during the second quarter. LGT Group Foundation now owns 1,514,482 shares of the utilities provider’s stock worth $107,240,000 after purchasing an additional 1,371,982 shares in the last quarter. Finally, Senator Investment Group LP boosted its position in NextEra Energy by 5,094.5% during the second quarter. Senator Investment Group LP now owns 1,019,629 shares of the utilities provider’s stock worth $72,200,000 after purchasing an additional 1,000,000 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $78.52 on Friday. The firm has a market capitalization of $161.47 billion, a PE ratio of 23.23, a P/E/G ratio of 2.84 and a beta of 0.57. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The business has a 50-day moving average of $80.40 and a two-hundred day moving average of $77.80. NextEra Energy, Inc. has a 12 month low of $53.95 and a 12 month high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, research analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.62%. NextEra Energy’s dividend payout ratio is presently 60.95%.

Insider Activity

In other news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEE. Barclays boosted their target price on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Morgan Stanley decreased their target price on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. BMO Capital Markets boosted their target price on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Jefferies Financial Group started coverage on NextEra Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective on the stock. Finally, Guggenheim upped their price objective on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.85.

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.