Procyon Advisors LLC Increases Position in NextEra Energy, Inc. (NYSE:NEE)

Procyon Advisors LLC grew its stake in NextEra Energy, Inc. (NYSE:NEE) by 9.2% during the fourth quarter, HoldingsChannel reports. The fund owned 14,266 shares of the utilities provider’s stock after acquiring an additional 1,196 shares during the quarter. Procyon Advisors LLC’s holdings in NextEra Energy were worth $867,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ grew its stake in NextEra Energy by 1.7% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after buying an additional 6,325 shares during the last quarter. Asio Capital LLC acquired a new stake in NextEra Energy during the 4th quarter worth about $2,701,000. Robertson Stephens Wealth Management LLC lifted its position in NextEra Energy by 7.3% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock worth $1,015,000 after acquiring an additional 1,211 shares during the period. Cavalry Management Group LLC lifted its position in NextEra Energy by 15.5% during the 2nd quarter. Cavalry Management Group LLC now owns 4,600 shares of the utilities provider’s stock worth $341,000 after acquiring an additional 617 shares during the period. Finally, Jackson Wealth Management LLC lifted its position in NextEra Energy by 3.9% during the 3rd quarter. Jackson Wealth Management LLC now owns 103,366 shares of the utilities provider’s stock worth $5,922,000 after acquiring an additional 3,926 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Price Performance

Shares of NEE stock traded down $0.22 during trading hours on Thursday, reaching $63.57. The company had a trading volume of 1,329,304 shares, compared to its average volume of 11,880,451. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.47 and a current ratio of 0.55. The stock has a fifty day moving average of $57.72 and a 200-day moving average of $58.58. The company has a market capitalization of $130.47 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 2.18 and a beta of 0.50. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $79.78.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $5.72 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. During the same period in the prior year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.44 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.24%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. NextEra Energy’s dividend payout ratio is presently 57.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEE. Mizuho reissued a “buy” rating and issued a $67.00 price objective (up previously from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. Citigroup began coverage on NextEra Energy in a report on Friday, December 8th. They issued a “buy” rating and a $69.00 price target for the company. Wells Fargo & Company upped their price target on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. StockNews.com cut NextEra Energy from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, JPMorgan Chase & Co. upped their price target on NextEra Energy from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.46.

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.