Investment Management Corp of Ontario Boosts Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Investment Management Corp of Ontario increased its stake in NextEra Energy, Inc. (NYSE:NEE) by 329.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 293,156 shares of the utilities provider’s stock after buying an additional 224,945 shares during the quarter. NextEra Energy makes up about 0.7% of Investment Management Corp of Ontario’s portfolio, making the stock its 24th largest position. Investment Management Corp of Ontario’s holdings in NextEra Energy were worth $21,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEE. Empowered Funds LLC increased its holdings in shares of NextEra Energy by 14.7% in the fourth quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock worth $3,267,000 after purchasing an additional 5,831 shares during the period. Empower Advisory Group LLC increased its stake in NextEra Energy by 2.3% in the 4th quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider’s stock worth $130,714,000 after acquiring an additional 41,328 shares during the last quarter. Czech National Bank raised its holdings in shares of NextEra Energy by 6.5% in the 4th quarter. Czech National Bank now owns 445,870 shares of the utilities provider’s stock valued at $31,964,000 after acquiring an additional 27,340 shares in the last quarter. True North Advisors LLC bought a new stake in shares of NextEra Energy during the 4th quarter valued at about $3,015,000. Finally, HB Wealth Management LLC grew its holdings in shares of NextEra Energy by 3.1% during the fourth quarter. HB Wealth Management LLC now owns 170,426 shares of the utilities provider’s stock worth $12,218,000 after purchasing an additional 5,174 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Performance

Shares of NEE stock opened at $70.37 on Friday. The company has a market capitalization of $144.87 billion, a P/E ratio of 20.88, a PEG ratio of 2.45 and a beta of 0.69. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10. 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 has a 50 day moving average price of $68.73 and a two-hundred day moving average price of $71.55.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The business had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.5665 dividend. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, February 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.22%. NextEra Energy’s dividend payout ratio (DPR) is presently 84.64%.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of NextEra Energy in a report on Wednesday, April 23rd. Jefferies Financial Group reduced their target price on NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, Guggenheim reiterated a “buy” rating and set a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NextEra Energy presently has an average rating of “Hold” and an average price target of $83.46.

Insider Activity at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 27,427 shares in the company, valued at $1,867,504.43. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.