Parr Mcknight Wealth Management Group LLC Makes New $5.02 Million Investment in NextEra Energy, Inc. (NYSE:NEE)

Parr Mcknight Wealth Management Group LLC bought a new position in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 70,052 shares of the utilities provider’s stock, valued at approximately $5,022,000.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in NextEra Energy by 14.7% during the 4th quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock worth $3,267,000 after buying an additional 5,831 shares in the last quarter. Empower Advisory Group LLC boosted its holdings in NextEra Energy by 2.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider’s stock valued at $130,714,000 after acquiring an additional 41,328 shares during the last quarter. True North Advisors LLC bought a new position in NextEra Energy in the fourth quarter valued at about $3,015,000. Brentview Investment Management LLC acquired a new stake in NextEra Energy in the fourth quarter worth about $3,761,000. Finally, Clarendon Private LLC bought a new stake in NextEra Energy during the 4th quarter worth about $646,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NEE. Morgan Stanley reaffirmed an “overweight” rating on shares of NextEra Energy in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Jefferies Financial Group lowered their target price on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. BMO Capital Markets cut their price target on NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Erste Group Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Eight equities 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.com, NextEra Energy has an average rating of “Hold” and a consensus target price of $83.46.

NextEra Energy Stock Down 6.5%

NextEra Energy stock opened at $66.92 on Friday. 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’s 50-day moving average is $68.63 and its 200-day moving average is $71.12. The firm has a market capitalization of $137.76 billion, a PE ratio of 19.86, a P/E/G ratio of 2.45 and a beta of 0.69. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.58 billion. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.39%. NextEra Energy’s payout ratio is presently 84.64%.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the sale, the executive vice president now owns 196,817 shares of the company’s stock, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is owned by company insiders.

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.