Cove Private Wealth LLC Takes $544,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Cove Private Wealth LLC bought a new position in shares of NextEra Energy, Inc. (NYSE:NEE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,594 shares of the utilities provider’s stock, valued at approximately $544,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Semmax Financial Advisors Inc. grew its position in NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 225 shares in the last quarter. Burkett Financial Services LLC raised its position in NextEra Energy by 1,229.6% in the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 332 shares during the period. Reston Wealth Management LLC purchased a new stake in NextEra Energy during the third quarter valued at about $27,000. Quarry LP purchased a new stake in NextEra Energy during the 3rd quarter valued at about $33,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of NextEra Energy during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Down 0.8 %

Shares of NextEra Energy stock opened at $70.83 on Monday. The company has a 50-day moving average of $73.50 and a 200 day moving average of $77.21. NextEra Energy, Inc. has a 1 year low of $53.95 and a 1 year high of $86.10. The firm has a market cap of $145.66 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.26 and a beta of 0.58. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. NextEra Energy’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. As a group, sell-side analysts anticipate that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NEE has been the topic of several analyst reports. Scotiabank lifted their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Morgan Stanley lowered their price objective on shares of NextEra Energy from $95.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Barclays raised their target price on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price objective on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.15.

Insider Buying and Selling

In related news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

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.