Pitti Group Wealth Management LLC Purchases Shares of 5,705 NextEra Energy, Inc. (NYSE:NEE)

Pitti Group Wealth Management LLC acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 5,705 shares of the utilities provider’s stock, valued at approximately $404,000.

Several other institutional investors also recently modified their holdings of NEE. Empowered Funds LLC raised its stake in NextEra Energy by 14.7% in the fourth quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock valued at $3,267,000 after buying an additional 5,831 shares during the period. Empower Advisory Group LLC boosted its stake in shares of NextEra Energy by 2.3% during the 4th quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider’s stock worth $130,714,000 after acquiring an additional 41,328 shares during the period. Somerset Trust Co increased its holdings in shares of NextEra Energy by 5.2% during the 1st quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider’s stock worth $6,359,000 after acquiring an additional 4,445 shares during the last quarter. Fortress Financial Solutions LLC acquired a new position in shares of NextEra Energy during the 4th quarter worth approximately $315,000. Finally, Asset Planning Inc bought a new stake in NextEra Energy in the 4th quarter valued at $560,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on NEE. UBS Group reduced their price objective on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Barclays reduced their target price on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Morgan Stanley reissued an “overweight” rating on shares of NextEra Energy in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price objective on NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.50.

NextEra Energy Stock Up 0.9%

Shares of NEE opened at $72.16 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The firm’s 50 day moving average is $68.45 and its 200-day moving average is $70.64. The stock has a market capitalization of $148.55 billion, a PE ratio of 21.41, a P/E/G ratio of 2.45 and a beta of 0.68.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. The firm had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Equities research analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.5665 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a yield of 3.14%. NextEra Energy’s payout ratio is 84.64%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $70.00, for a total value of $1,657,880.00. Following the sale, the executive vice president now owns 196,817 shares of the company’s stock, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

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.