Steele Capital Management Inc. Makes New Investment in NextEra Energy, Inc. (NYSE:NEE)

Steele Capital Management Inc. bought a new position in shares of NextEra Energy, Inc. (NYSE:NEE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,325 shares of the utilities provider’s stock, valued at approximately $506,000.

Other hedge funds have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in shares of NextEra Energy in the 4th quarter worth approximately $29,000. Alaska Permanent Fund Corp raised its holdings in shares of NextEra Energy by 59.8% in the 3rd quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 208 shares during the period. Stuart Chaussee & Associates Inc. grew its stake in NextEra Energy by 315.4% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after buying an additional 410 shares in the last quarter. Valued Wealth Advisors LLC purchased a new position in NextEra Energy in the 4th quarter valued at approximately $34,000. Finally, Rakuten Securities Inc. purchased a new position in NextEra Energy in the 4th quarter valued at approximately $34,000. Institutional investors own 78.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of NextEra Energy from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America lifted their price objective on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Mizuho lifted their price objective on shares of NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Morgan Stanley boosted their price target on shares of NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Finally, Guggenheim boosted their price target on shares of NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.50.

NextEra Energy Price Performance

NYSE:NEE traded up $1.43 during midday trading on Monday, hitting $67.42. The company had a trading volume of 9,713,221 shares, compared to its average volume of 11,887,858. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $138.52 billion, a PE ratio of 17.98, a P/E/G ratio of 2.43 and a beta of 0.51. The stock’s fifty day moving average price is $60.85 and its 200-day moving average price is $59.15. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $78.53.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 annualized dividend and a yield of 3.06%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

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.