Confluence Wealth Services Inc. Purchases 472 Shares of NextEra Energy, Inc. $NEE

Confluence Wealth Services Inc. raised its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,031 shares of the utilities provider’s stock after purchasing an additional 472 shares during the period. Confluence Wealth Services Inc.’s holdings in NextEra Energy were worth $2,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NEE. GQG Partners LLC lifted its position in NextEra Energy by 58.4% in the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock worth $1,221,896,000 after buying an additional 6,352,798 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of NextEra Energy by 20.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock valued at $1,165,748,000 after purchasing an additional 2,815,629 shares in the last quarter. Amundi lifted its stake in NextEra Energy by 27.8% in the first quarter. Amundi now owns 12,200,990 shares of the utilities provider’s stock worth $878,447,000 after purchasing an additional 2,657,438 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of NextEra Energy by 1.0% in the first quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider’s stock worth $14,697,086,000 after buying an additional 2,025,193 shares during the period. Finally, Boston Partners lifted its stake in shares of NextEra Energy by 55.3% in the 1st quarter. Boston Partners now owns 5,300,839 shares of the utilities provider’s stock valued at $374,639,000 after acquiring an additional 1,886,999 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NEE. Mizuho set a $78.00 price target on NextEra Energy in a research report on Thursday, August 21st. Melius started coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 target price on the stock. Barclays lifted their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Morgan Stanley reissued an “overweight” rating and set a $95.00 price target (down previously from $96.00) on shares of NextEra Energy in a research report on Thursday, September 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NextEra Energy in a report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.08.

NextEra Energy Stock Performance

NYSE:NEE opened at $80.12 on Monday. The stock has a market cap of $164.98 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66. The firm’s fifty day simple moving average is $72.99 and its 200 day simple moving average is $71.28. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.00. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36.

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

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy’s payout ratio is presently 79.02%.

Insider Transactions at NextEra Energy

In other news, EVP Michael Dunne sold 10,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer James Michael May sold 2,177 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the transaction, the treasurer owned 27,662 shares of the company’s stock, valued at approximately $2,143,805. The trade was a 7.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,369 shares of company stock worth $1,539,610 over the last quarter. Insiders own 0.20% of the company’s stock.

NextEra Energy Company 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.