Beacon Harbor Wealth Advisors Inc. Invests $3.24 Million in NextEra Energy, Inc. (NYSE:NEE)

Beacon Harbor Wealth Advisors Inc. acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 53,340 shares of the utilities provider’s stock, valued at approximately $3,240,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mizuho Markets Americas LLC acquired a new position in shares of NextEra Energy in the third quarter valued at about $141,817,000. Nordea Investment Management AB increased its position in NextEra Energy by 59.1% during the 3rd quarter. Nordea Investment Management AB now owns 5,784,080 shares of the utilities provider’s stock valued at $337,096,000 after purchasing an additional 2,148,205 shares during the period. International Assets Investment Management LLC increased its position in NextEra Energy by 7,999.6% during the 4th quarter. International Assets Investment Management LLC now owns 2,173,459 shares of the utilities provider’s stock valued at $132,016,000 after purchasing an additional 2,146,625 shares during the period. Vanguard Group Inc. increased its position in NextEra Energy by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock valued at $11,368,065,000 after purchasing an additional 1,956,153 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of NextEra Energy during the 4th quarter worth approximately $94,883,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Price Performance

NEE stock traded down $0.13 during mid-day trading on Thursday, reaching $68.48. 5,879,194 shares of the company traded hands, compared to its average volume of 11,817,564. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. The company has a market capitalization of $140.69 billion, a P/E ratio of 18.70, a P/E/G ratio of 2.47 and a beta of 0.50. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $78.53. The company has a fifty day moving average price of $61.49 and a 200-day moving average price of $59.41.

NextEra Energy (NYSE:NEE) last posted its earnings results 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 business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. As a group, analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.515 per share. 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. This represents a $2.06 annualized dividend and a dividend yield of 3.01%. NextEra Energy’s payout ratio is presently 56.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Scotiabank increased their target price on NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, April 22nd. Barclays began coverage on NextEra Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 target price on the stock. Guggenheim raised their price objective on NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Bank of America raised their price objective on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. 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 given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

About NextEra Energy

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.