Riverbend Wealth Management LLC Takes $511,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Riverbend Wealth Management LLC purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,096 shares of the utilities provider’s stock, valued at approximately $511,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Clare Market Investments LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth about $456,000. Vista Investment Partners II LLC acquired a new stake in NextEra Energy during the 4th quarter valued at approximately $249,000. Morton Community Bank increased its holdings in NextEra Energy by 1.2% during the 4th quarter. Morton Community Bank now owns 48,908 shares of the utilities provider’s stock worth $3,506,000 after purchasing an additional 600 shares during the last quarter. Ranch Capital Advisors Inc. raised its position in shares of NextEra Energy by 3.7% in the 4th quarter. Ranch Capital Advisors Inc. now owns 16,673 shares of the utilities provider’s stock valued at $1,195,000 after purchasing an additional 588 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in shares of NextEra Energy by 8.3% during the 4th quarter. Tortoise Investment Management LLC now owns 1,943 shares of the utilities provider’s stock valued at $139,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Trading Up 4.5 %

NYSE:NEE opened at $76.14 on Tuesday. The firm has a market capitalization of $156.62 billion, a P/E ratio of 22.59, a P/E/G ratio of 2.45 and a beta of 0.58. The business has a 50 day simple moving average of $70.39 and a 200 day simple moving average of $76.01. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. NextEra Energy, Inc. has a 12-month low of $56.55 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Equities research analysts predict that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $0.5665 dividend. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.27 annualized dividend and a yield of 2.98%. NextEra Energy’s dividend payout ratio is 67.06%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NEE. Evercore ISI dropped their price target 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. Scotiabank boosted their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley increased their price target on shares of NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Jefferies Financial Group lowered their price objective on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Finally, BMO Capital Markets upped their price objective on NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Hold” and a consensus price target of $85.85.

Insider Buying and Selling at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the transaction, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

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.