Riverbend Wealth Management LLC Buys Shares of 7,096 NextEra Energy, Inc. (NYSE:NEE)

Riverbend Wealth Management LLC purchased a new position in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, HoldingsChannel reports. The firm purchased 7,096 shares of the utilities provider’s stock, valued at approximately $511,000.

Other institutional investors also recently made changes to their positions in the company. Second Line Capital LLC boosted its position in shares of NextEra Energy by 4.7% during the 3rd quarter. Second Line Capital LLC now owns 3,097 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 139 shares in the last quarter. Drive Wealth Management LLC lifted its stake in NextEra Energy by 2.8% during the third quarter. Drive Wealth Management LLC now owns 5,332 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 145 shares during the period. Accel Wealth Management boosted its holdings in NextEra Energy by 1.7% during the fourth quarter. Accel Wealth Management now owns 8,615 shares of the utilities provider’s stock valued at $618,000 after purchasing an additional 145 shares in the last quarter. L.M. Kohn & Company grew its stake in shares of NextEra Energy by 1.0% in the 4th quarter. L.M. Kohn & Company now owns 15,353 shares of the utilities provider’s stock valued at $1,101,000 after purchasing an additional 145 shares during the period. Finally, 1ST Source Bank raised its holdings in shares of NextEra Energy by 0.4% in the 3rd quarter. 1ST Source Bank now owns 34,178 shares of the utilities provider’s stock worth $2,889,000 after buying an additional 147 shares in the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEE has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Scotiabank boosted their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on shares of NextEra Energy from $99.00 to $90.00 in a report on Monday, January 27th. Evercore ISI cut their price target on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets boosted their price target on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and an average price target of $85.85.

NextEra Energy Stock Performance

NEE stock opened at $76.14 on Tuesday. The stock has a market capitalization of $156.62 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The company has a 50 day moving average price of $70.39 and a 200 day moving average price of $76.01. NextEra Energy, Inc. has a fifty-two week low of $56.55 and a fifty-two week high of $86.10.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate 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. Shareholders of record on Friday, February 28th will be paid a $0.5665 dividend. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a yield of 2.98%. NextEra Energy’s dividend payout ratio (DPR) is presently 67.06%.

Insider Buying and Selling at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of the stock in a transaction 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 owns 27,427 shares of the company’s stock, valued at $1,867,504.43. This represents a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

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.