TRUE Private Wealth Advisors Acquires New Shares in NextEra Energy, Inc. (NYSE:NEE)

TRUE Private Wealth Advisors acquired a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 4,071 shares of the utilities provider’s stock, valued at approximately $247,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of NextEra Energy by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock valued at $11,368,065,000 after acquiring an additional 1,956,153 shares in the last quarter. Norges Bank bought a new position in NextEra Energy during the 4th quarter worth $2,774,845,000. Moneta Group Investment Advisors LLC raised its position in NextEra Energy by 66,613.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 30,263,816 shares of the utilities provider’s stock worth $2,530,055,000 after purchasing an additional 30,218,452 shares during the last quarter. Northern Trust Corp raised its position in NextEra Energy by 2.0% during the 3rd quarter. Northern Trust Corp now owns 22,982,250 shares of the utilities provider’s stock worth $1,316,653,000 after purchasing an additional 455,271 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in NextEra Energy by 1.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,626,941 shares of the utilities provider’s stock worth $1,538,947,000 after purchasing an additional 315,356 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE opened at $63.79 on Thursday. 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 stock has a 50-day moving average of $59.58 and a 200-day moving average of $58.39. The company has a market cap of $130.92 billion, a PE ratio of 17.67, a P/E/G ratio of 2.22 and a beta of 0.51. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $79.78.

NextEra Energy (NYSE:NEE) last issued its earnings results on Thursday, January 25th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.72 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. During the same period last year, the business posted $0.51 EPS. On average, equities research analysts predict 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. Stockholders of record on Tuesday, February 27th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 annualized dividend and a dividend yield of 3.23%. NextEra Energy’s dividend payout ratio (DPR) is currently 57.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Mizuho reaffirmed a “buy” rating and set a $67.00 target price (up from $65.00) on shares of NextEra Energy in a research report on Friday, March 15th. Guggenheim raised their target price on NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Wells Fargo & Company raised their target price on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. Finally, StockNews.com lowered NextEra Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, NextEra Energy presently has an average rating of “Moderate Buy” and a consensus 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.