Financial Gravity Companies Inc. Buys New Stake in NextEra Energy, Inc. $NEE

Financial Gravity Companies Inc. acquired a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,977 shares of the utilities provider’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NextEra Energy by 1.0% during the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock valued at $14,697,086,000 after acquiring an additional 2,025,193 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NextEra Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 45,724,229 shares of the utilities provider’s stock valued at $3,161,774,000 after acquiring an additional 526,996 shares during the last quarter. Northern Trust Corp raised its holdings in shares of NextEra Energy by 1.1% during the first quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider’s stock worth $1,655,512,000 after purchasing an additional 262,819 shares during the period. Goldman Sachs Group Inc. raised its stake in NextEra Energy by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider’s stock worth $1,507,770,000 after acquiring an additional 1,336,259 shares during the period. Finally, GQG Partners LLC raised its position in shares of NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock worth $1,221,896,000 after purchasing an additional 6,352,798 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NEE shares. Evercore ISI reiterated an “outperform” rating and issued a $93.00 price objective on shares of NextEra Energy in a research report on Tuesday, October 28th. Melius began coverage on NextEra Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $77.00 target price for the company. TD Cowen began coverage on shares of NextEra Energy in a research report on Thursday, October 16th. They issued a “buy” rating and a $98.00 price target on the stock. Cowen started coverage on NextEra Energy in a research note on Wednesday, October 15th. They issued a “buy” rating on the stock. Finally, Melius Research raised shares of NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.53.

Insider Buying and Selling

In other news, EVP Charles E. Sieving sold 11,336 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president directly owned 167,481 shares in the company, valued at approximately $13,398,480. The trade was a 6.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the sale, the executive vice president directly owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 23,028 shares of company stock worth $1,738,973. 0.20% of the stock is currently owned by insiders.

NextEra Energy Stock Down 0.2%

NEE stock opened at $83.84 on Friday. The firm has a market cap of $174.60 billion, a PE ratio of 26.70, a PEG ratio of 2.76 and a beta of 0.69. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $87.53. The company has a fifty day simple moving average of $79.50 and a 200 day simple moving average of $74.64. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the company earned $1.03 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, November 21st. NextEra Energy’s payout ratio is 71.97%.

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.