Palumbo Wealth Management LLC Increases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Palumbo Wealth Management LLC boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,817 shares of the utilities provider’s stock after buying an additional 486 shares during the period. Palumbo Wealth Management LLC’s holdings in NextEra Energy were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proffitt & Goodson Inc. raised its stake in shares of NextEra Energy by 64.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 144 shares during the period. Semmax Financial Advisors Inc. grew its holdings in NextEra Energy by 197.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after buying an additional 225 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of NextEra Energy during the second quarter valued at about $33,000. Maryland Capital Advisors Inc. purchased a new stake in shares of NextEra Energy in the third quarter worth about $39,000. Finally, Family Firm Inc. bought a new position in shares of NextEra Energy in the second quarter valued at approximately $40,000. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Up 0.3 %

Shares of NEE traded up $0.27 during mid-day trading on Thursday, reaching $79.36. The company’s stock had a trading volume of 2,291,255 shares, compared to its average volume of 10,728,385. NextEra Energy, Inc. has a 52 week low of $53.81 and a 52 week high of $86.10. The stock has a market cap of $163.05 billion, a PE ratio of 21.56, a P/E/G ratio of 3.03 and a beta of 0.56. The company’s fifty day moving average price is $82.43 and its two-hundred day moving average price is $76.55. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The business had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.60%. NextEra Energy’s payout ratio is 56.13%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price on the stock. Barclays increased their price objective on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Morgan Stanley raised their price target on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price objective on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.54.

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.