Cove Private Wealth LLC Makes New Investment in NextEra Energy, Inc. (NYSE:NEE)

Cove Private Wealth LLC acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,594 shares of the utilities provider’s stock, valued at approximately $544,000.

A number of other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in NextEra Energy by 8,641.5% during the 3rd quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock worth $326,388,000 after buying an additional 3,817,037 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of NextEra Energy by 4,058.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock valued at $200,065,000 after acquiring an additional 2,309,876 shares in the last quarter. Nordea Investment Management AB raised its position in shares of NextEra Energy by 20.9% during the fourth quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock worth $634,703,000 after purchasing an additional 1,525,436 shares during the period. National Bank of Canada FI lifted its holdings in shares of NextEra Energy by 167.7% in the 3rd quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock worth $184,795,000 after purchasing an additional 1,369,689 shares in the last quarter. Finally, Raymond James & Associates grew its position in NextEra Energy by 14.3% in the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after purchasing an additional 851,873 shares during the period. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

NEE opened at $70.83 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. The firm has a market cap of $145.66 billion, a P/E ratio of 20.96, a PEG ratio of 2.26 and a beta of 0.58. NextEra Energy, Inc. has a fifty-two week low of $53.95 and a fifty-two week high of $86.10. The firm has a 50-day moving average of $73.50 and a 200 day moving average of $77.21.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. NextEra Energy’s revenue was up 5.5% on a year-over-year basis. On average, research analysts expect that NextEra Energy, Inc. will post 3.41 EPS for the current year.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Dbs Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. BMO Capital Markets raised their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Guggenheim boosted their price objective on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada lowered NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their price target on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of “Hold” and an average price target of $87.15.

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.