Core Wealth Management Inc. Sells 664 Shares of NextEra Energy, Inc. (NYSE:NEE)

Core Wealth Management Inc. lowered its position in NextEra Energy, Inc. (NYSE:NEE) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,891 shares of the utilities provider’s stock after selling 664 shares during the period. NextEra Energy accounts for 0.4% of Core Wealth Management Inc.’s portfolio, making the stock its 10th largest holding. Core Wealth Management Inc.’s holdings in NextEra Energy were worth $904,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Avitas Wealth Management LLC boosted its position in NextEra Energy by 2.9% during the fourth quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock worth $2,299,000 after purchasing an additional 1,057 shares during the period. Stiles Financial Services Inc boosted its position in NextEra Energy by 9.0% during the fourth quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock worth $2,137,000 after purchasing an additional 2,899 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in NextEra Energy by 1.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after purchasing an additional 6,325 shares during the period. Asio Capital LLC bought a new stake in NextEra Energy during the fourth quarter worth approximately $2,701,000. Finally, Robertson Stephens Wealth Management LLC boosted its position in NextEra Energy by 7.3% during the third quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock worth $1,015,000 after purchasing an additional 1,211 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEE shares. Wells Fargo & Company increased their price objective on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. Morgan Stanley increased their price objective on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Scotiabank increased their price objective on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, April 22nd. Finally, Bank of America increased their price objective on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

NextEra Energy Price Performance

Shares of NextEra Energy stock traded down $0.91 during trading on Friday, reaching $65.99. 9,982,762 shares of the company’s stock were exchanged, compared to its average volume of 10,921,297. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.51. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $78.53. The company has a market cap of $135.58 billion, a P/E ratio of 17.98, a PEG ratio of 2.43 and a beta of 0.51. The firm’s 50-day moving average price is $60.85 and its 200 day moving average price is $59.11.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. As a group, research analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

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.