NextEra Energy, Inc. $NEE Stock Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 6,457.9% in the third quarter, HoldingsChannel reports. The firm owned 46,627 shares of the utilities provider’s stock after purchasing an additional 45,916 shares during the period. Provenance Wealth Advisors LLC’s holdings in NextEra Energy were worth $3,532,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kilter Group LLC acquired a new stake in shares of NextEra Energy during the 2nd quarter worth approximately $25,000. Manning & Napier Advisors LLC bought a new stake in shares of NextEra Energy in the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of NextEra Energy in the 2nd quarter valued at $26,000. Financial Network Wealth Advisors LLC lifted its position in shares of NextEra Energy by 83.0% during the 2nd quarter. Financial Network Wealth Advisors LLC now owns 344 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 156 shares during the period. Finally, Axiom Investment Management LLC acquired a new position in shares of NextEra Energy during the 1st quarter valued at $32,000. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $84.17 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. NextEra Energy, Inc. has a twelve month low of $74.41 and a twelve month high of $98.75. The stock’s 50 day moving average is $80.27 and its 200-day moving average is $87.20. The firm has a market capitalization of $176.54 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.63 and a beta of 0.60.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. NextEra Energy had a net margin of 40.37% and a return on equity of 12.27%. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter last year, the firm posted $1.13 EPS. NextEra Energy’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts forecast that NextEra Energy, Inc. will post 4.01 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 27th will be paid a $0.6232 dividend. This represents a $2.49 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, November 27th. NextEra Energy’s dividend payout ratio (DPR) is 44.86%.

Analysts Set New Price Targets

NEE has been the topic of several research analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of NextEra Energy in a research note on Thursday, October 8th. Mizuho dropped their price objective on shares of NextEra Energy from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, October 6th. HSBC set a $103.00 price objective on shares of NextEra Energy in a report on Thursday, October 22nd. HC Wainwright restated a “buy” rating on shares of NextEra Energy in a research note on Monday, July 27th. Finally, Scotiabank decreased their target price on NextEra Energy from $110.00 to $99.00 and set an “outperform” rating for the company in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.

NextEra Energy Company Profile

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy’s principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.