Main Street Research LLC Buys Shares of 3,293 NextEra Energy, Inc. (NYSE:NEE)

Main Street Research LLC purchased a new position in NextEra Energy, Inc. (NYSE:NEE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,293 shares of the utilities provider’s stock, valued at approximately $236,000.

A number of other hedge funds have also recently made changes to their positions in NEE. Burkett Financial Services LLC boosted its stake in NextEra Energy by 1,229.6% in the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new position in NextEra Energy in the 4th quarter worth approximately $28,000. Quarry LP bought a new position in NextEra Energy in the 3rd quarter valued at approximately $33,000. Luken Investment Analytics LLC purchased a new stake in NextEra Energy during the 4th quarter valued at $36,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of NextEra Energy in the 4th quarter worth $44,000. 78.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Stock Performance

NYSE:NEE opened at $72.86 on Monday. The stock has a 50-day simple moving average of $70.30 and a two-hundred day simple moving average of $76.03. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. NextEra Energy, Inc. has a 52-week low of $56.31 and a 52-week high of $86.10. The firm has a market capitalization of $149.88 billion, a PE ratio of 21.62, a P/E/G ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.11%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, February 28th. NextEra Energy’s payout ratio is presently 67.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEE. JPMorgan Chase & Co. lowered their price target on NextEra Energy from $99.00 to $90.00 in a report on Monday, January 27th. Jefferies Financial Group decreased their price objective on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Evercore ISI dropped their target price on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Morgan Stanley boosted their target price on shares of NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, BMO Capital Markets increased their price target on NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.85.

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.