Modern Wealth Management LLC Acquires 192,183 Shares of NextEra Energy, Inc. (NYSE:NEE)

Modern Wealth Management LLC raised its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 1,096.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 209,708 shares of the utilities provider’s stock after buying an additional 192,183 shares during the quarter. Modern Wealth Management LLC’s holdings in NextEra Energy were worth $14,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in NextEra Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 205,297,225 shares of the utilities provider’s stock valued at $14,717,758,000 after acquiring an additional 2,090,538 shares during the period. Geode Capital Management LLC increased its position in shares of NextEra Energy by 2.0% during the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock valued at $3,571,650,000 after purchasing an additional 820,704 shares during the period. Bank of New York Mellon Corp raised its stake in shares of NextEra Energy by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock valued at $1,041,210,000 after purchasing an additional 588,038 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NextEra Energy by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,630,784 shares of the utilities provider’s stock worth $977,191,000 after purchasing an additional 345,999 shares during the period. Finally, Amundi boosted its stake in NextEra Energy by 49.8% during the fourth quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock worth $676,008,000 after buying an additional 3,172,405 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

NextEra Energy Price Performance

NEE opened at $70.02 on Tuesday. The stock has a market capitalization of $144.03 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. 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 simple moving average is $70.68 and its 200-day simple moving average is $75.42. NextEra Energy, Inc. has a one year low of $61.30 and a one year high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. Sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $0.5665 per share. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, February 28th. This represents a $2.27 annualized dividend and a dividend yield of 3.24%. NextEra Energy’s payout ratio is presently 67.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NEE shares. Scotiabank raised their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. BMO Capital Markets increased their target price on NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Morgan Stanley boosted their price target on NextEra Energy from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, Guggenheim reiterated a “buy” rating and set a $89.00 price objective on shares of NextEra Energy in a research note on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.92.

Insider Activity

In related news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the sale, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

NextEra Energy 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.