Concord Wealth Partners Has $1.72 Million Position in NextEra Energy, Inc. (NYSE:NEE)

Concord Wealth Partners boosted its position in NextEra Energy, Inc. (NYSE:NEE) by 15.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,311 shares of the utilities provider’s stock after buying an additional 3,889 shares during the period. Concord Wealth Partners’ holdings in NextEra Energy were worth $1,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NEE. BOK Financial Private Wealth Inc. bought a new position in shares of NextEra Energy in the fourth quarter valued at approximately $29,000. Alaska Permanent Fund Corp increased its stake in NextEra Energy by 59.8% in the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 208 shares during the last quarter. Stuart Chaussee & Associates Inc. grew its stake in shares of NextEra Energy by 315.4% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after buying an additional 410 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in shares of NextEra Energy during the fourth quarter valued at about $34,000. Finally, Rakuten Securities Inc. bought a new position in shares of NextEra Energy during the fourth quarter valued at about $34,000. 78.72% of the stock is owned by institutional investors.

NextEra Energy Price Performance

Shares of NYSE:NEE traded up $1.68 during midday trading on Wednesday, hitting $68.65. The company’s stock had a trading volume of 6,541,660 shares, compared to its average volume of 11,797,432. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. The business’s 50 day simple moving average is $61.26 and its 200 day simple moving average is $59.34. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $78.53. The company has a market cap of $141.04 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.48 and a beta of 0.51.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. On average, analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is currently 56.13%.

Wall Street Analyst Weigh In

NEE has been the subject of a number of analyst reports. StockNews.com upgraded shares of NextEra Energy from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. Scotiabank raised their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday, April 22nd. Barclays initiated coverage on shares of NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price target for the company. Finally, Morgan Stanley lifted their target price on shares of NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.50.

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.