Financial Gravity Asset Management Inc. Acquires Shares of 5,981 NextEra Energy, Inc. (NYSE:NEE)

Financial Gravity Asset Management Inc. acquired a new position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,981 shares of the utilities provider's stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bellwether Advisors LLC acquired a new position in NextEra Energy in the 4th quarter valued at about $30,000. WealthTrak Capital Management LLC acquired a new position in NextEra Energy in the 4th quarter valued at about $33,000. Copia Wealth Management acquired a new position in NextEra Energy in the 4th quarter valued at about $36,000. Graney & King LLC acquired a new position in NextEra Energy in the 4th quarter valued at about $46,000. Finally, Mascoma Wealth Management LLC grew its position in NextEra Energy by 41.3% in the 4th quarter. Mascoma Wealth Management LLC now owns 643 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 188 shares in the last quarter. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Stock Down 0.4%

NEE stock traded down $0.29 during trading on Friday, hitting $74.35. 8,094,042 shares of the company's stock were exchanged, compared to its average volume of 11,113,128. The business has a 50-day moving average price of $71.35 and a two-hundred day moving average price of $70.20. The stock has a market capitalization of $153.06 billion, a price-to-earnings ratio of 27.85, a PEG ratio of 2.62 and a beta of 0.67. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.32.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $6.25 billion during the quarter, compared to analysts' expectations of $6.58 billion. NextEra Energy had a return on equity of 12.06% and a net margin of 21.81%. The firm's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, equities research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Monday, June 2nd. NextEra Energy's payout ratio is 85.02%.

Insiders Place Their Bets

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 196,817 shares in the company, valued at approximately $13,777,190. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NEE shares. Wells Fargo & Company dropped their target price on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Erste Group Bank downgraded NextEra Energy from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Barclays lifted their target price on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research report on Thursday. Morgan Stanley dropped their target price on NextEra Energy from $95.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Finally, Guggenheim reissued a "buy" rating and set a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, NextEra Energy has an average rating of "Moderate Buy" and a consensus target price of $84.73.

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.