Ilmarinen Mutual Pension Insurance Co Has $24.33 Million Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Ilmarinen Mutual Pension Insurance Co lifted its position in NextEra Energy, Inc. (NYSE:NEE) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,356 shares of the utilities provider’s stock after purchasing an additional 8,500 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in NextEra Energy were worth $24,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC raised its stake in shares of NextEra Energy by 1,229.6% in the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after buying an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in NextEra Energy in the fourth quarter worth about $28,000. Quarry LP bought a new position in NextEra Energy during the third quarter worth about $33,000. WealthTrak Capital Management LLC bought a new position in NextEra Energy during the fourth quarter worth about $33,000. Finally, Luken Investment Analytics LLC acquired a new stake in NextEra Energy during the fourth quarter valued at approximately $36,000. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Down 7.2 %

NYSE:NEE opened at $66.97 on Friday. The company has a market cap of $137.75 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 2.45 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The stock’s fifty day moving average price is $70.65 and its two-hundred day moving average price is $74.73. NextEra Energy, Inc. has a 52-week low of $61.31 and a 52-week high of $86.10.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. On average, analysts anticipate that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s payout ratio is currently 67.06%.

Insider Buying and Selling at NextEra Energy

In related news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the sale, the chief accounting officer now owns 27,427 shares in the company, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NEE shares. Morgan Stanley raised their target price on NextEra Energy from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Jefferies Financial Group cut their price objective on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Evercore ISI lowered their target price on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. BMO Capital Markets lifted their price target on shares of NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating and set a $89.00 price objective on shares of NextEra Energy in a research note on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $85.92.

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.