Bestgate Wealth Advisors LLC Buys New Position in NextEra Energy, Inc. (NYSE:NEE)

Bestgate Wealth Advisors LLC bought a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,345 shares of the utilities provider’s stock, valued at approximately $240,000.

Other hedge funds also recently added to or reduced their stakes in the company. Burkett Financial Services LLC increased its position in NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after buying an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of NextEra Energy in the fourth quarter worth about $28,000. Quarry LP purchased a new position in shares of NextEra Energy in the third quarter worth about $33,000. Luken Investment Analytics LLC purchased a new position in shares of NextEra Energy in the fourth quarter worth about $36,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of NextEra Energy by 2,482.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 594 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 571 shares during the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

NYSE:NEE opened at $70.63 on Wednesday. NextEra Energy, Inc. has a 52 week low of $60.26 and a 52 week high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $145.28 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.45 and a beta of 0.58. The stock’s fifty day moving average is $70.54 and its two-hundred day moving average is $75.70.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 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%. Equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s payout ratio is currently 67.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEE. Scotiabank raised their price objective on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Morgan Stanley raised their price objective on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI reduced their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Finally, Jefferies Financial Group reduced their price target on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Eight 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.com, NextEra Energy has a consensus rating of “Hold” and an average target price of $85.92.

Insider Activity at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of the business’s 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 sale, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.