Royal Fund Management LLC Boosts Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Royal Fund Management LLC grew its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,618 shares of the utilities provider’s stock after acquiring an additional 3,245 shares during the quarter. Royal Fund Management LLC’s holdings in NextEra Energy were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Avitas Wealth Management LLC raised its stake in NextEra Energy by 2.9% in the 4th quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after acquiring an additional 1,057 shares during the period. Stiles Financial Services Inc increased its position in shares of NextEra Energy by 9.0% in 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 last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of NextEra Energy by 1.7% in 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 last quarter. Asio Capital LLC bought a new position in shares of NextEra Energy in the fourth quarter worth approximately $2,701,000. Finally, Robertson Stephens Wealth Management LLC increased its position in shares of NextEra Energy by 7.3% in 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 last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NYSE:NEE traded up $1.29 on Friday, hitting $70.14. The stock had a trading volume of 12,687,503 shares, compared to its average volume of 11,442,457. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $78.53. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The stock has a market cap of $144.10 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.53 and a beta of 0.50. The business’s 50-day simple moving average is $62.00 and its two-hundred day simple moving average is $59.58.

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, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. As a group, research analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NEE. Bank of America upped their target price on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. Mizuho upped their target price on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Barclays began coverage on NextEra Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

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.