MJT & Associates Financial Advisory Group Inc. Acquires Shares of 7,670 NextEra Energy, Inc. (NYSE:NEE)

Key Points

• MJT & Associates Financial Advisory Group Inc. invested approximately $544,000 in NextEra Energy, purchasing 7,670 shares during the 1st quarter, making it the 22nd largest position in their investment portfolio.
• NextEra Energy reported $1.05 earnings per share, surpassing analysts' expectations, while its revenue for the quarter was $6.70 billion, which was below the consensus estimate of $7.52 billion.
• The company announced a quarterly dividend of $0.5665 per share, with an annualized payout of $2.27, resulting in a dividend yield of 3.15%.

MJT & Associates Financial Advisory Group Inc. acquired a new position in NextEra Energy, Inc. (NYSE:NEE - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,670 shares of the utilities provider's stock, valued at approximately $544,000. NextEra Energy accounts for about 0.5% of MJT & Associates Financial Advisory Group Inc.'s portfolio, making the stock its 22nd biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bellwether Advisors LLC acquired a new position in NextEra Energy in the fourth quarter valued at approximately $30,000. IMA Advisory Services Inc. acquired a new position in NextEra Energy in the first quarter valued at approximately $35,000. Copia Wealth Management acquired a new position in NextEra Energy in the fourth quarter valued at approximately $36,000. CBIZ Investment Advisory Services LLC lifted its stake in NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider's stock valued at $37,000 after buying an additional 366 shares during the period. Finally, Hughes Financial Services LLC acquired a new position in NextEra Energy in the first quarter valued at approximately $40,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays boosted their price target on NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. dropped their price target on NextEra Energy from $86.00 to $82.00 in a research note on Thursday, July 3rd. UBS Group dropped their price target on NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. HSBC lowered their target price on NextEra Energy from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Finally, Erste Group Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.42.

NextEra Energy Stock Up 0.9%

NextEra Energy stock traded up $0.62 during trading on Tuesday, hitting $71.96. 7,585,984 shares of the company were exchanged, compared to its average volume of 10,389,966. The business's 50 day moving average is $72.19 and its 200 day moving average is $70.46. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The company has a market capitalization of $148.19 billion, a P/E ratio of 25.16, a PEG ratio of 2.46 and a beta of 0.67. 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 announced its quarterly earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%. The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. NextEra Energy's revenue was up 10.4% compared to the same quarter last year. Analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 3.15%. NextEra Energy's dividend payout ratio (DPR) is currently 79.37%.

Insider Buying and Selling

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the transaction, the executive vice president owned 26,539 shares in the company, valued at $1,906,561.76. This represents a 22.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles E. Sieving sold 23,684 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $70.00, for a total value of $1,657,880.00. Following the completion of the transaction, the executive vice president owned 196,817 shares of the company's stock, valued at $13,777,190. This trade represents a 10.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,361 shares of company stock worth $2,365,398. 0.18% of the stock is owned by corporate insiders.

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.