Pitti Group Wealth Management LLC Acquires New Holdings in NextEra Energy, Inc. (NYSE:NEE)

Pitti Group Wealth Management LLC bought a new stake in NextEra Energy, Inc. (NYSE:NEE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,705 shares of the utilities provider's stock, valued at approximately $404,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in shares of NextEra Energy by 14.7% in the 4th quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider's stock valued at $3,267,000 after purchasing an additional 5,831 shares in the last quarter. Empower Advisory Group LLC raised its holdings in shares of NextEra Energy by 2.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider's stock valued at $130,714,000 after buying an additional 41,328 shares during the last quarter. Somerset Trust Co raised its holdings in shares of NextEra Energy by 5.2% in the first quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock valued at $6,359,000 after buying an additional 4,445 shares during the last quarter. Fortress Financial Solutions LLC bought a new position in shares of NextEra Energy in the fourth quarter valued at about $315,000. Finally, Asset Planning Inc bought a new position in shares of NextEra Energy in the fourth quarter valued at about $560,000. Institutional investors and hedge funds own 78.72% of the company's stock.

NextEra Energy Trading Up 0.9%

NYSE:NEE traded up $0.66 on Friday, hitting $72.16. 9,285,402 shares of the stock were exchanged, compared to its average volume of 11,123,967. The stock has a market capitalization of $148.55 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 2.45 and a beta of 0.68. NextEra Energy, Inc. has a 52 week low of $61.72 and a 52 week high of $86.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The company's 50-day moving average price is $68.45 and its 200 day moving average price is $70.64.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. The company 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 11.85% and a net margin of 28.06%. NextEra Energy's revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 EPS. On average, equities research analysts forecast 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, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.5665 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.14%. NextEra Energy's dividend payout ratio (DPR) is presently 84.64%.

Insider Activity

In related 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 transaction, the executive vice president now directly owns 196,817 shares in the company, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NEE. Erste Group Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on NextEra Energy from $90.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 11th. Morgan Stanley reaffirmed an "overweight" rating on shares of NextEra Energy in a report on Wednesday, April 23rd. Barclays cut their price target on NextEra Energy from $73.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company cut their price target on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $83.50.

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.