Broadway Wealth Solutions Inc. Makes New Investment in NextEra Energy, Inc. (NYSE:NEE)

Broadway Wealth Solutions Inc. acquired a new position in NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, Holdings Channel reports. The firm acquired 3,659 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other hedge funds have also made changes to their positions in NEE. Vanguard Group Inc. increased its holdings in NextEra Energy by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 205,297,225 shares of the utilities provider’s stock valued at $14,717,758,000 after purchasing an additional 2,090,538 shares in the last quarter. Norges Bank acquired a new position in shares of NextEra Energy during the fourth quarter worth about $3,484,197,000. Geode Capital Management LLC boosted its position in shares of NextEra Energy by 2.0% in the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock worth $3,571,650,000 after buying an additional 820,704 shares during the period. Bank of New York Mellon Corp grew 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 buying an additional 588,038 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NextEra Energy by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,630,784 shares of the utilities provider’s stock valued at $977,191,000 after buying an additional 345,999 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Up 0.5 %

Shares of NYSE NEE opened at $70.08 on Friday. 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 stock’s 50 day moving average price is $70.68 and its two-hundred day moving average price is $75.27. NextEra Energy, Inc. has a 52-week low of $61.31 and a 52-week high of $86.10. The stock has a market capitalization of $144.15 billion, a P/E ratio of 20.79, a PEG ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last posted its quarterly 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 return on equity of 11.85% and a net margin of 28.06%. On average, 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 declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $0.5665 dividend. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Friday, February 28th. NextEra Energy’s dividend payout ratio (DPR) is presently 67.06%.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of analyst reports. Scotiabank upped their price target on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Evercore ISI decreased their target price on shares of 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. BMO Capital Markets lifted their price target on shares of NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reissued a “buy” rating and issued a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. Finally, Jefferies Financial Group dropped their target price on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $85.92.

Insider Activity

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now owns 27,427 shares of the company’s stock, valued at $1,867,504.43. This trade represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.