Western Wealth Management LLC Acquires 6,980 Shares of NextEra Energy, Inc. (NYSE:NEE)

Western Wealth Management LLC grew its holdings in NextEra Energy, Inc. (NYSE:NEE) by 20.1% in the 4th quarter, Holdings Channel reports. The fund owned 41,630 shares of the utilities provider’s stock after purchasing an additional 6,980 shares during the quarter. Western Wealth Management LLC’s holdings in NextEra Energy were worth $2,529,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. United Bank raised its position in NextEra Energy by 9.8% in the 1st quarter. United Bank now owns 9,966 shares of the utilities provider’s stock valued at $844,000 after buying an additional 891 shares during the last quarter. LSV Asset Management increased its stake in NextEra Energy by 9.2% in the 1st quarter. LSV Asset Management now owns 32,180 shares of the utilities provider’s stock valued at $2,726,000 after buying an additional 2,700 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of NextEra Energy by 11.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 15,731 shares of the utilities provider’s stock worth $1,333,000 after buying an additional 1,587 shares during the last quarter. Covestor Ltd grew its holdings in shares of NextEra Energy by 59.1% in the 1st quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 326 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in shares of NextEra Energy during the 1st quarter worth approximately $793,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE stock traded up $0.21 on Friday, hitting $64.22. 1,950,540 shares of the stock were exchanged, compared to its average volume of 11,715,446. The firm’s 50 day moving average is $59.73 and its two-hundred day moving average is $58.43. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $79.78. The firm has a market capitalization of $131.81 billion, a PE ratio of 17.73, a P/E/G ratio of 2.29 and a beta of 0.51. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06.

NextEra Energy (NYSE:NEE) last issued its earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The firm had revenue of $6.88 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter last year, the business earned $0.51 earnings per share. Sell-side analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a $0.515 dividend. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio (DPR) is presently 57.06%.

Analyst Ratings Changes

A number of research analysts have recently commented on NEE shares. StockNews.com downgraded shares of NextEra Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Barclays initiated coverage on NextEra Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 target price for the company. Wells Fargo & Company raised their price target on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Mizuho reiterated a “buy” rating and issued a $67.00 price objective (up from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a research note on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.36.

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.