Modern Wealth Management LLC Has $15 Million Position in NextEra Energy, Inc. $NEE

Key Points

• Modern Wealth Management LLC increased its position in NextEra Energy by 5.3%, holding a total of 211,643 shares worth $15 million after purchasing an additional 10,638 shares.
• NextEra Energy recently announced a quarterly dividend of $0.5665 per share, reflecting an annualized yield of 3.2% with a payout ratio of 79.02%.
• Analysts have varying price targets on NextEra Energy stock, with an average target of $84.00, including a recent upgrade from JPMorgan Chase raising their target from $86.00 to $87.00.

Modern Wealth Management LLC raised its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 211,643 shares of the utilities provider's stock after buying an additional 10,638 shares during the period. Modern Wealth Management LLC's holdings in NextEra Energy were worth $15,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of NextEra Energy by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 207,322,418 shares of the utilities provider's stock valued at $14,697,086,000 after buying an additional 2,025,193 shares during the period. Northern Trust Corp boosted its stake in shares of NextEra Energy by 1.1% during the 1st quarter. Northern Trust Corp now owns 23,353,245 shares of the utilities provider's stock valued at $1,655,512,000 after buying an additional 262,819 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of NextEra Energy by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 21,269,146 shares of the utilities provider's stock valued at $1,507,770,000 after buying an additional 1,336,259 shares during the period. GQG Partners LLC boosted its stake in shares of NextEra Energy by 58.4% during the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider's stock valued at $1,221,896,000 after buying an additional 6,352,798 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NextEra Energy by 20.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider's stock valued at $1,165,748,000 after buying an additional 2,815,629 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

Insiders Place Their Bets

In other NextEra Energy news, EVP Robert Coffey sold 7,500 shares of the business's 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 owned 26,539 shares of the company's stock, valued at $1,906,561.76. The trade was a 22.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president directly owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,677 shares of company stock valued at $1,415,418 in the last quarter. Insiders own 0.20% of the company's stock.

NextEra Energy Stock Up 0.5%

NextEra Energy stock opened at $71.36 on Friday. The company has a market capitalization of $146.95 billion, a P/E ratio of 24.95, a P/E/G ratio of 2.45 and a beta of 0.65. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year 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. The firm's fifty day simple moving average is $73.13 and its 200-day simple moving average is $71.05.

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

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given 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 payout ratio is currently 79.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NEE shares. JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $86.00 to $87.00 and gave the company an "overweight" rating in a research note on Friday, August 22nd. Melius Research raised shares of NextEra Energy to a "strong-buy" rating in a research note on Wednesday, August 20th. HSBC cut their price target 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. BMO Capital Markets raised their price target 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. Finally, UBS Group cut their price target on shares of NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $84.00.

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.

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