Brown Miller Wealth Management LLC Grows Stake in NextEra Energy, Inc. $NEE

Brown Miller Wealth Management LLC increased its holdings in NextEra Energy, Inc. (NYSE:NEE) by 2.4% during the second quarter, Holdings Channel reports. The firm owned 59,179 shares of the utilities provider’s stock after acquiring an additional 1,382 shares during the quarter. NextEra Energy makes up 1.3% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Brown Miller Wealth Management LLC’s holdings in NextEra Energy were worth $4,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEE. 1 North Wealth Services LLC purchased a new position in NextEra Energy during the first quarter valued at $26,000. Nova Wealth Management Inc. purchased a new stake in NextEra Energy in the 1st quarter worth $32,000. IMA Advisory Services Inc. bought a new position in shares of NextEra Energy during the 1st quarter valued at about $35,000. Semmax Financial Advisors Inc. grew its position in shares of NextEra Energy by 335.0% during the first quarter. Semmax Financial Advisors Inc. now owns 509 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 392 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its holdings in shares of NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 366 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

NYSE:NEE opened at $80.12 on Friday. The firm has a market capitalization of $164.98 billion, a PE ratio of 28.01, a PEG ratio of 2.76 and a beta of 0.66. The stock’s fifty day moving average is $72.99 and its 200 day moving average is $71.28. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.00. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. On average, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Thursday, August 28th were given a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, August 28th. NextEra Energy’s payout ratio is 79.37%.

Analysts Set New Price Targets

A number of brokerages recently commented on NEE. HSBC dropped their price target on NextEra Energy from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of NextEra Energy in a research report on Saturday, September 27th. Melius initiated coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price target on the stock. Mizuho set a $78.00 price target on shares of NextEra Energy in a research note on Thursday, August 21st. Finally, BMO Capital Markets lifted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, NextEra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $84.08.

Insiders Place Their Bets

In other news, EVP Michael Dunne sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president owned 62,064 shares of the company’s stock, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer James Michael May sold 2,177 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the sale, the treasurer directly owned 27,662 shares of the company’s stock, valued at $2,143,805. This represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,369 shares of company stock worth $1,539,610 over the last three months. 0.20% 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,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.