Western Wealth Management LLC Decreases Stake in NextEra Energy, Inc. $NEE

Western Wealth Management LLC lowered its holdings in NextEra Energy, Inc. (NYSE:NEE) by 28.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,073 shares of the utilities provider’s stock after selling 8,992 shares during the period. Western Wealth Management LLC’s holdings in NextEra Energy were worth $1,666,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its holdings in shares of NextEra Energy by 79.7% in the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 157 shares during the last quarter. Harbor Asset Planning Inc. acquired a new stake in NextEra Energy in the second quarter worth about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $25,000. Tripletail Wealth Management LLC bought a new stake in NextEra Energy during the third quarter worth approximately $25,000. Finally, Quaker Wealth Management LLC lifted its position in NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 772 shares during the period. 78.72% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Price Performance

NYSE NEE opened at $89.49 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $186.37 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.77 and a beta of 0.75. NextEra Energy, Inc. has a 12-month low of $61.72 and a 12-month high of $90.99. The company has a 50 day moving average price of $82.97 and a two-hundred day moving average price of $79.67.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the firm earned $0.53 EPS. NextEra Energy’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Armando Pimentel, Jr. sold 145,140 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $83.91, for a total value of $12,178,697.40. Following the completion of the sale, the chief executive officer directly owned 162,693 shares in the company, valued at approximately $13,651,569.63. The trade was a 47.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Charles E. Sieving sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $90.00, for a total value of $2,700,000.00. Following the sale, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $15,073,290. The trade was a 15.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 204,586 shares of company stock valued at $17,474,707 over the last quarter. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NEE shares. BMO Capital Markets set a $95.00 price target on shares of NextEra Energy in a report on Thursday, January 29th. The Goldman Sachs Group boosted their target price on shares of NextEra Energy from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Evercore reissued an “outperform” rating and issued a $93.00 price target on shares of NextEra Energy in a research report on Tuesday, October 28th. Wells Fargo & Company increased their target price on shares of NextEra Energy from $97.00 to $98.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.95.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.