Destination Wealth Management Makes New $233,000 Investment in NextEra Energy, Inc. (NYSE:NEE)

Destination Wealth Management bought a new stake in NextEra Energy, Inc. (NYSE:NEE) during the third quarter, HoldingsChannel.com reports. The firm bought 2,762 shares of the utilities provider’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NEE. Proffitt & Goodson Inc. grew its position in NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 144 shares during the last quarter. Semmax Financial Advisors Inc. grew its holdings in shares of NextEra Energy by 197.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Reston Wealth Management LLC acquired a new position in NextEra Energy during the 3rd quarter worth approximately $27,000. Valley Wealth Managers Inc. bought a new position in NextEra Energy in the 2nd quarter valued at approximately $33,000. Finally, Quarry LP acquired a new stake in NextEra Energy in the third quarter valued at approximately $33,000. Institutional investors own 78.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America increased their price target on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays increased their target price on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price target on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Scotiabank raised their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Guggenheim boosted their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $87.15.

Insider Activity

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’s 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 directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $73.22 on Friday. The company has a market capitalization of $150.57 billion, a PE ratio of 21.66, a P/E/G ratio of 2.67 and a beta of 0.56. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a twelve month low of $53.95 and a twelve month high of $86.10. The firm has a fifty day simple moving average of $78.61 and a 200 day simple moving average of $77.76.

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

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio (DPR) is 60.95%.

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.