Summit Financial LLC Has $2.95 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Summit Financial LLC lowered its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 48,498 shares of the utilities provider’s stock after selling 396 shares during the quarter. Summit Financial LLC’s holdings in NextEra Energy were worth $2,946,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. New York Life Investment Management LLC raised its holdings in shares of NextEra Energy by 1.9% during the 4th quarter. New York Life Investment Management LLC now owns 322,786 shares of the utilities provider’s stock valued at $19,606,000 after buying an additional 5,880 shares in the last quarter. Searle & CO. boosted its position in shares of NextEra Energy by 8.6% during the fourth quarter. Searle & CO. now owns 14,824 shares of the utilities provider’s stock valued at $900,000 after purchasing an additional 1,176 shares in the last quarter. Concord Wealth Partners boosted its position in shares of NextEra Energy by 15.9% during the fourth quarter. Concord Wealth Partners now owns 28,311 shares of the utilities provider’s stock valued at $1,720,000 after purchasing an additional 3,889 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new stake in shares of NextEra Energy during the fourth quarter valued at approximately $426,000. Finally, ICW Investment Advisors LLC boosted its position in shares of NextEra Energy by 3.4% during the fourth quarter. ICW Investment Advisors LLC now owns 19,547 shares of the utilities provider’s stock valued at $1,187,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NYSE NEE traded up $1.65 during trading on Wednesday, reaching $68.62. 13,991,109 shares of the company traded hands, compared to its average volume of 11,890,941. The firm’s fifty day simple moving average is $61.26 and its 200 day simple moving average is $59.34. The stock has a market cap of $140.98 billion, a P/E ratio of 18.25, a PEG ratio of 2.48 and a beta of 0.51. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $78.53. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The firm’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, research analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s payout ratio is currently 56.13%.

Analyst Ratings Changes

Several equities research analysts have commented on NEE shares. BMO Capital Markets boosted their target price on NextEra Energy from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Guggenheim upped their price objective on NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Mizuho upped their price objective on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. StockNews.com raised NextEra Energy from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $71.50.

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.