Magnus Financial Group LLC Reduces Stock Holdings in NextEra Energy, Inc. (NYSE:NEE)

Magnus Financial Group LLC lowered its position in NextEra Energy, Inc. (NYSE:NEE) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,492 shares of the utilities provider’s stock after selling 316 shares during the quarter. Magnus Financial Group LLC’s holdings in NextEra Energy were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NEE. BOK Financial Private Wealth Inc. purchased a new position in NextEra Energy during the fourth quarter worth about $29,000. Alaska Permanent Fund Corp lifted its position in shares of NextEra Energy by 59.8% during the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Stuart Chaussee & Associates Inc. lifted its position in shares of NextEra Energy by 315.4% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 410 shares in the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth about $34,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of NextEra Energy during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Performance

Shares of NEE opened at $66.30 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The firm has a market cap of $136.22 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.43 and a beta of 0.51. The company’s 50 day simple moving average is $60.85 and its 200-day simple moving average is $59.15. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $78.53.

NextEra Energy (NYSE:NEE) last posted 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 net margin of 27.62% and a return on equity of 11.72%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the firm posted $0.84 EPS. NextEra Energy’s quarterly revenue was down 14.7% on a year-over-year basis. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 3.11%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NEE. Mizuho increased their price target on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley raised their target price on shares of NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Bank of America raised their target price on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. StockNews.com raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a report on Monday, April 22nd. Finally, Scotiabank raised their price objective on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $71.50.

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.