Forum Financial Management LP Raises Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Forum Financial Management LP raised its holdings in NextEra Energy, Inc. (NYSE:NEE) by 3.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 6,792 shares of the utilities provider’s stock after acquiring an additional 218 shares during the period. Forum Financial Management LP’s holdings in NextEra Energy were worth $574,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BSW Wealth Partners boosted its stake in shares of NextEra Energy by 14.7% in the third quarter. BSW Wealth Partners now owns 7,003 shares of the utilities provider’s stock worth $592,000 after buying an additional 898 shares during the last quarter. Angeles Wealth Management LLC boosted its position in NextEra Energy by 9.2% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,641 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 308 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of NextEra Energy by 8.8% during the 3rd quarter. Confluence Wealth Services Inc. now owns 20,567 shares of the utilities provider’s stock worth $1,738,000 after purchasing an additional 1,659 shares during the period. Cardinal Strategic Wealth Guidance purchased a new position in shares of NextEra Energy during the 3rd quarter valued at approximately $408,000. Finally, Indie Asset Partners LLC acquired a new position in shares of NextEra Energy in the 3rd quarter valued at $282,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Trading Up 1.3 %

Shares of NextEra Energy stock opened at $78.37 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The stock’s 50 day simple moving average is $82.34 and its 200-day simple moving average is $76.97. The stock has a market cap of $161.16 billion, a P/E ratio of 23.19, a P/E/G ratio of 2.86 and a beta of 0.57. NextEra Energy, Inc. has a 1-year low of $53.81 and a 1-year high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The company had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the prior year, the business earned $0.94 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is currently 60.95%.

Analysts Set New Price Targets

NEE has been the subject of a number of recent analyst reports. Guggenheim lifted their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America upped their price target on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their price objective on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Jefferies Financial Group started coverage on NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 target price on the stock. Finally, BMO Capital Markets boosted their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.54.

About NextEra Energy

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.