Arista Wealth Management LLC Takes $1.89 Million Position in NextEra Energy, Inc. $NEE

Key Points

• Arista Wealth Management LLC has acquired a new stake in NextEra Energy, Inc., purchasing 27,269 shares valued at approximately $1.89 million.
• NextEra Energy's quarterly earnings report showed an EPS of $1.05, surpassing analysts' expectations, although its revenue fell short, amounting to $6.70 billion.
• The company declared a quarterly dividend of $0.5665, representing an annual yield of 2.7%, with a payout ratio of 79.37%.

Arista Wealth Management LLC acquired a new stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 27,269 shares of the utilities provider's stock, valued at approximately $1,893,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Activest Wealth Management grew its position in NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 157 shares during the period. Harbor Asset Planning Inc. purchased a new stake in NextEra Energy during the second quarter valued at about $25,000. 1 North Wealth Services LLC purchased a new stake in NextEra Energy during the first quarter valued at about $26,000. Nova Wealth Management Inc. purchased a new stake in NextEra Energy during the first quarter valued at about $32,000. Finally, IMA Advisory Services Inc. purchased a new stake in NextEra Energy during the first quarter valued at about $35,000. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Trading Down 0.9%

Shares of NEE opened at $85.00 on Friday. The stock's 50-day moving average is $75.30 and its two-hundred day moving average is $72.13. The stock has a market cap of $175.04 billion, a PE ratio of 29.72, a P/E/G ratio of 2.90 and a beta of 0.66. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.74. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.54 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Equities analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were paid a $0.5665 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.27 annualized dividend and a dividend yield of 2.7%. NextEra Energy's payout ratio is 79.37%.

Insiders Place Their Bets

In related news, EVP Michael Dunne sold 10,000 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the transaction, the executive vice president owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the transaction, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,705 shares of company stock valued at $2,446,490. Insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. HSBC lowered their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Jefferies Financial Group reissued a "hold" rating and set a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a research report on Tuesday. New Street Research set a $84.00 price target on NextEra Energy in a research report on Monday. Cowen initiated coverage on NextEra Energy in a research report on Wednesday. They set a "buy" rating for the company. Finally, Mizuho set a $78.00 price objective on NextEra Energy in a research note on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $86.40.

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.

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