Westend Capital Management LLC Buys 993 Shares of NextEra Energy, Inc. (NYSE:NEE)

Westend Capital Management LLC raised its stake in NextEra Energy, Inc. (NYSE:NEE) by 459.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,209 shares of the utilities provider’s stock after acquiring an additional 993 shares during the quarter. Westend Capital Management LLC’s holdings in NextEra Energy were worth $86,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NEE. Norges Bank bought a new position in shares of NextEra Energy during the fourth quarter worth approximately $3,484,197,000. Boston Partners bought a new position in shares of NextEra Energy during the fourth quarter worth approximately $244,169,000. Two Sigma Advisers LP bought a new position in shares of NextEra Energy during the fourth quarter worth approximately $240,269,000. Amundi increased its holdings in shares of 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 purchasing an additional 3,172,405 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of NextEra Energy by 46.7% during the fourth quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider’s stock worth $567,093,000 after purchasing an additional 2,517,369 shares during the period. 78.72% of the stock is owned by institutional investors.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $70.00, for a total value of $1,657,880.00. Following the sale, the executive vice president now owns 196,817 shares in the company, valued at $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.20% of the company’s stock.

NextEra Energy Stock Performance

NYSE NEE opened at $70.96 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $146.07 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 2.50 and a beta of 0.68. The firm’s 50 day simple moving average is $69.99 and its 200 day simple moving average is $70.17. NextEra Energy, Inc. has a 1 year low of $61.72 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. As a group, research analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.5665 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a yield of 3.19%. NextEra Energy’s dividend payout ratio is currently 85.02%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NEE shares. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Erste Group Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. UBS Group lowered their target price on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, May 23rd. Guggenheim reaffirmed a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a report on Thursday, March 20th. Finally, BMO Capital Markets lowered their target price on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Seven equities research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $84.55.

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.