Spectrum Management Group Inc. grew its position in NextEra Energy Inc (NYSE:NEE) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,454 shares of the utilities provider’s stock after buying an additional 905 shares during the period. NextEra Energy accounts for about 1.2% of Spectrum Management Group Inc.’s portfolio, making the stock its 13th largest position. Spectrum Management Group Inc.’s holdings in NextEra Energy were worth $4,147,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. RPG Investment Advisory LLC purchased a new position in shares of NextEra Energy during the 1st quarter valued at approximately $42,000. Acima Private Wealth LLC purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $39,000. Westside Investment Management Inc. increased its holdings in shares of NextEra Energy by 62.9% during the 4th quarter. Westside Investment Management Inc. now owns 259 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $46,000. Finally, PRW Wealth Management LLC purchased a new position in shares of NextEra Energy during the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 77.20% of the company’s stock.
Shares of NEE opened at $189.52 on Wednesday. NextEra Energy Inc has a 52-week low of $155.06 and a 52-week high of $195.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.29 and a current ratio of 0.36. The firm has a market cap of $91.55 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.29.
NextEra Energy (NYSE:NEE) last announced its earnings results on Friday, January 25th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.02). NextEra Energy had a return on equity of 10.01% and a net margin of 39.74%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same period last year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts forecast that NextEra Energy Inc will post 8.41 earnings per share for the current fiscal year.
NEE has been the subject of several recent research reports. Zacks Investment Research lowered shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Guggenheim reissued a “buy” rating and issued a $205.00 price target on shares of NextEra Energy in a research note on Monday, January 7th. Morgan Stanley lifted their price target on shares of NextEra Energy from $184.00 to $188.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Barclays raised shares of NextEra Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $187.00 to $207.00 in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Finally, Goldman Sachs Group cut shares of NextEra Energy from a “conviction-buy” rating to a “buy” rating and set a $194.00 price target on the stock. in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $183.08.
In other news, Director James L. Robo sold 15,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $187.87, for a total transaction of $2,818,050.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah H. Caplan sold 3,054 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $183.50, for a total transaction of $560,409.00. Following the transaction, the executive vice president now directly owns 22,597 shares in the company, valued at approximately $4,146,549.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,773 shares of company stock worth $33,097,211. 0.55% of the stock is currently owned by corporate insiders.
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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