Coastwise Capital Group LLC Increases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Coastwise Capital Group LLC raised its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 6,071 shares of the utilities provider’s stock after purchasing an additional 167 shares during the period. Coastwise Capital Group LLC’s holdings in NextEra Energy were worth $513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new stake in NextEra Energy in the third quarter valued at approximately $27,000. Semmax Financial Advisors Inc. raised its holdings in shares of NextEra Energy by 197.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after buying an additional 225 shares during the period. Proffitt & Goodson Inc. raised its holdings in shares of NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after buying an additional 144 shares during the period. Valley Wealth Managers Inc. acquired a new position in NextEra Energy during the 2nd quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. purchased a new position in NextEra Energy during the 3rd quarter valued at about $39,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NEE shares. Morgan Stanley cut their price target on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Bank of America upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Guggenheim raised their price target on shares of NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company increased their price objective on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.85.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the transaction, the executive vice president now directly owns 15,792 shares in the company, valued at approximately $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Stock Performance

Shares of NEE opened at $78.67 on Monday. The company has a market capitalization of $161.78 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.84 and a beta of 0.57. NextEra Energy, Inc. has a 52-week low of $53.95 and a 52-week high of $86.10. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average price of $80.32 and a 200 day moving average price of $77.85.

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

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a yield of 2.62%. NextEra Energy’s dividend payout ratio is presently 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.