Cove Private Wealth LLC Acquires 1,535 Shares of NextEra Energy, Inc. (NYSE:NEE)

Cove Private Wealth LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 20.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,129 shares of the utilities provider’s stock after acquiring an additional 1,535 shares during the quarter. Cove Private Wealth LLC’s holdings in NextEra Energy were worth $647,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bellwether Advisors LLC bought a new position in NextEra Energy in the 4th quarter worth about $30,000. IMA Advisory Services Inc. purchased a new position in shares of NextEra Energy in the 1st quarter worth about $35,000. Copia Wealth Management purchased a new position in shares of NextEra Energy in the 4th quarter worth about $36,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of NextEra Energy by 237.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 366 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in shares of NextEra Energy in the 1st quarter worth about $40,000. 78.72% of the stock is currently owned by institutional investors.

Insider Activity at NextEra Energy

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert Coffey sold 7,500 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the sale, the executive vice president owned 26,539 shares of the company’s stock, valued at approximately $1,906,561.76. This trade represents a 22.03% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

NEE has been the subject of a number of research reports. BMO Capital Markets upped their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. HSBC cut their price objective on NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, July 11th. Erste Group Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. cut their price objective on NextEra Energy from $86.00 to $82.00 in a report on Thursday, July 3rd. Finally, Barclays upped their price objective on NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.42.

NextEra Energy Trading Down 0.2%

Shares of NEE stock opened at $72.42 on Monday. The business has a 50-day moving average of $72.56 and a 200 day moving average of $70.57. The stock has a market capitalization of $149.13 billion, a PE ratio of 25.32, a P/E/G ratio of 2.49 and a beta of 0.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $86.10.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%. The business had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter last year, the business posted $0.96 EPS. The business’s revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be issued a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 annualized dividend and a yield of 3.1%. NextEra Energy’s dividend payout ratio (DPR) is 79.37%.

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.