NextEra Energy, Inc. $NEE Stock: Provenance Wealth Advisors LLC Grows Stake

Key Points

• Provenance Wealth Advisors increased its NextEra Energy stake by 6,457.9% in the third quarter, ending the period with 46,627 shares valued at about $3.53 million. Institutional investors collectively own 78.72% of the company.
• NextEra reported quarterly EPS of $1.24, beating the $1.20 consensus, while revenue of $8.09 billion came in below estimates of $8.47 billion; revenue rose 1.6% year over year.
• The company declared a quarterly dividend of $0.6232 per share, equivalent to an annualized yield of about 3.0%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $97.80.

Provenance Wealth Advisors LLC raised its position in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 6,457.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,627 shares of the utilities provider's stock after buying an additional 45,916 shares during the quarter. Provenance Wealth Advisors LLC's holdings in NextEra Energy were worth $3,532,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Czech National Bank raised its stake in NextEra Energy by 4.7% in the second quarter. Czech National Bank now owns 593,568 shares of the utilities provider's stock valued at $52,097,000 after purchasing an additional 26,378 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in shares of NextEra Energy by 13.9% in the second quarter. Annex Advisory Services LLC now owns 711,009 shares of the utilities provider's stock worth $62,405,000 after acquiring an additional 86,585 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in NextEra Energy by 4.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 544,574 shares of the utilities provider's stock valued at $47,797,000 after buying an additional 21,569 shares in the last quarter. CV Advisors LLC acquired a new position in shares of NextEra Energy during the second quarter worth $1,404,000. Finally, Avity Investment Management Inc. lifted its stake in shares of NextEra Energy by 5.7% in the 2nd quarter. Avity Investment Management Inc. now owns 500,576 shares of the utilities provider's stock valued at $43,936,000 after acquiring an additional 26,848 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

NextEra Energy Trading Down 1.0%

Shares of NEE stock opened at $84.17 on Wednesday. The stock has a market cap of $176.54 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 2.63 and a beta of 0.60. The stock has a 50-day moving average of $80.27 and a 200-day moving average of $87.20. The company has a current ratio of 0.53, a quick ratio of 0.45 and a debt-to-equity ratio of 1.33. NextEra Energy, Inc. has a 1-year low of $74.41 and a 1-year high of $98.75.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The utilities provider reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.04. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.47 billion. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 earnings per share. On average, equities research analysts forecast that NextEra Energy, Inc. will post 4.01 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 27th will be paid a dividend of $0.6232 per share. This represents a $2.49 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 27th. NextEra Energy's dividend payout ratio (DPR) is currently 44.86%.

Analyst Upgrades and Downgrades

NEE has been the topic of several recent research reports. BTIG Research set a $106.00 target price on shares of NextEra Energy in a research report on Thursday, October 22nd. Morgan Stanley set a $110.00 price target on shares of NextEra Energy and gave the company an "overweight" rating in a research report on Wednesday, October 14th. Wall Street Zen upgraded shares of NextEra Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 17th. HSBC set a $103.00 price target on shares of NextEra Energy in a research note on Thursday, October 22nd. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $108.00 price target on shares of NextEra Energy in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, NextEra Energy has a consensus rating of "Moderate Buy" and an average target price of $97.80.

NextEra Energy Company Profile

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy's principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.