Miracle Mile Advisors LLC Grows Stake in NextEra Energy, Inc. (NYSE:NEE)

Miracle Mile Advisors LLC boosted its position in NextEra Energy, Inc. (NYSE:NEE) by 3.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,519 shares of the utilities provider’s stock after purchasing an additional 420 shares during the period. Miracle Mile Advisors LLC’s holdings in NextEra Energy were worth $800,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Clear Investment Research LLC increased its position in NextEra Energy by 387.2% during the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after buying an additional 364 shares in the last quarter. BOK Financial Private Wealth Inc. acquired a new stake in shares of NextEra Energy during the fourth quarter worth $29,000. Stuart Chaussee & Associates Inc. boosted its holdings 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 during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of NextEra Energy during the fourth quarter worth $34,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of NextEra Energy during the fourth quarter worth $34,000. 78.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NEE shares. Evercore ISI raised their price objective on NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a report on Wednesday, June 12th. Mizuho cut NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a report on Wednesday, June 12th. Morgan Stanley lifted their target price on NextEra Energy from $79.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets lifted their target price on NextEra Energy from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.57.

NextEra Energy Price Performance

NEE traded down $0.91 during trading on Monday, reaching $69.90. The stock had a trading volume of 10,882,348 shares, compared to its average volume of 11,985,448. The firm has a market capitalization of $143.61 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.42 and a beta of 0.54. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $80.47. The stock has a 50 day moving average of $73.25 and a two-hundred day moving average of $64.52.

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

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.515 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a yield of 2.95%. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

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.