Geneos Wealth Management Inc. Raises Stake in NextEra Energy, Inc. (NYSE:NEE)

Key Points

• Geneos Wealth Management Inc. increased its stake in NextEra Energy by 31.8%, acquiring an additional 36,763 shares, bringing its total holdings to 152,241 shares valued at approximately $10.79 million.
• NextEra Energy reported a quarterly earnings of $1.05 per share, exceeding analysts' expectations of $1.01, although its revenue fell short of projections at $6.70 billion.
• The company declared a quarterly dividend of $0.5665 per share, representing an annualized dividend of $2.27 at a yield of 3.18%.

Geneos Wealth Management Inc. lifted its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 31.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,241 shares of the utilities provider's stock after acquiring an additional 36,763 shares during the quarter. Geneos Wealth Management Inc.'s holdings in NextEra Energy were worth $10,792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cim LLC lifted its holdings in NextEra Energy by 0.5% during the 4th quarter. Cim LLC now owns 33,434 shares of the utilities provider's stock valued at $2,397,000 after buying an additional 158 shares in the last quarter. Conning Inc. grew its position in shares of NextEra Energy by 1.1% in the 1st quarter. Conning Inc. now owns 14,089 shares of the utilities provider's stock worth $999,000 after buying an additional 160 shares during the last quarter. Wealth Dimensions Group Ltd. grew its position in shares of NextEra Energy by 4.3% in the 4th quarter. Wealth Dimensions Group Ltd. now owns 3,877 shares of the utilities provider's stock worth $278,000 after buying an additional 161 shares during the last quarter. Premier Path Wealth Partners LLC grew its position in shares of NextEra Energy by 0.7% in the 1st quarter. Premier Path Wealth Partners LLC now owns 22,445 shares of the utilities provider's stock worth $1,591,000 after buying an additional 166 shares during the last quarter. Finally, Opal Wealth Advisors LLC grew its position in NextEra Energy by 2.9% during the 1st quarter. Opal Wealth Advisors LLC now owns 6,020 shares of the utilities provider's stock worth $427,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of NextEra Energy from $86.00 to $82.00 in a research report on Thursday, July 3rd. UBS Group dropped their target price on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Erste Group Bank downgraded shares of NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. HSBC dropped their price objective on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, BMO Capital Markets upped their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Seven investment analysts have rated the stock with a hold rating and eight have given 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 $84.42.

Insiders Place Their Bets

In other news, Treasurer James Michael May sold 2,177 shares of NextEra Energy stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total value of $168,717.50. Following the transaction, the treasurer directly owned 27,662 shares of the company's stock, valued at $2,143,805. The trade was a 7.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Coffey sold 7,500 shares of NextEra Energy stock in a transaction on Monday, July 28th. The shares were sold at an average price of $71.84, for a total transaction of $538,800.00. Following the completion of the transaction, the executive vice president directly owned 26,539 shares in the company, valued at $1,906,561.76. The trade was a 22.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,361 shares of company stock valued at $2,365,398. 0.20% of the stock is owned by corporate insiders.

NextEra Energy Stock Down 0.6%

NYSE:NEE traded down $0.41 during mid-day trading on Friday, hitting $70.65. The stock had a trading volume of 4,026,338 shares, compared to its average volume of 12,118,120. The stock has a 50-day simple moving average of $72.21 and a two-hundred day simple moving average of $70.50. The company has a market capitalization of $145.48 billion, a PE ratio of 24.71, a PEG ratio of 2.44 and a beta of 0.67. NextEra Energy, Inc. has a twelve month low of $61.72 and a twelve month high of $86.10. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. The firm 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 firm's revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. On average, equities research analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be issued a dividend of $0.5665 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.2%. NextEra Energy's dividend payout ratio (DPR) is presently 79.37%.

About NextEra Energy

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.