Sagespring Wealth Partners LLC Buys New Position in NextEra Energy, Inc. (NYSE:NEE)

Sagespring Wealth Partners LLC purchased a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 30,304 shares of the utilities provider’s stock, valued at approximately $2,172,000.

A number of other institutional investors also recently made changes to their positions in the stock. Burkett Financial Services LLC increased its stake in shares of NextEra Energy by 1,229.6% during the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 332 shares during the period. Sugar Maple Asset Management LLC acquired a new position in shares of NextEra Energy during the 4th quarter valued at $28,000. WealthTrak Capital Management LLC bought a new stake in shares of NextEra Energy in the 4th quarter worth $33,000. Luken Investment Analytics LLC bought a new stake in shares of NextEra Energy in the 4th quarter worth $36,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of NextEra Energy in the fourth quarter valued at $44,000. 78.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on NEE. Evercore ISI dropped their price target on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Morgan Stanley lifted their price objective on shares of NextEra Energy from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Guggenheim reissued a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a research note on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Finally, BMO Capital Markets increased their price objective on NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $85.92.

Insider Buying and Selling at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. This trade represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $65.72 on Friday. The stock has a market cap of $135.29 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 12 month low of $61.31 and a 12 month high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $69.89 and a 200-day simple moving average of $73.84.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. On average, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.5665 dividend. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, February 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.45%. NextEra Energy’s dividend payout ratio is presently 67.06%.

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.