Intact Investment Management Inc. Increases Position in NextEra Energy, Inc. (NYSE:NEE)

Intact Investment Management Inc. increased its stake in NextEra Energy, Inc. (NYSE:NEE) by 7.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,600 shares of the utilities provider’s stock after purchasing an additional 11,400 shares during the quarter. Intact Investment Management Inc.’s holdings in NextEra Energy were worth $9,512,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Greenfield Savings Bank increased its holdings in NextEra Energy by 0.5% during the 4th quarter. Greenfield Savings Bank now owns 32,220 shares of the utilities provider’s stock valued at $1,957,000 after acquiring an additional 163 shares in the last quarter. Bay Harbor Wealth Management LLC increased its holdings in NextEra Energy by 22.7% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 930 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 172 shares in the last quarter. MKT Advisors LLC increased its holdings in NextEra Energy by 2.9% during the 4th quarter. MKT Advisors LLC now owns 6,233 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 173 shares in the last quarter. Meritage Portfolio Management increased its holdings in NextEra Energy by 3.9% during the 3rd quarter. Meritage Portfolio Management now owns 4,701 shares of the utilities provider’s stock valued at $269,000 after acquiring an additional 177 shares in the last quarter. Finally, First Pacific Financial increased its holdings in NextEra Energy by 2.0% during the 4th quarter. First Pacific Financial now owns 8,885 shares of the utilities provider’s stock valued at $540,000 after acquiring an additional 177 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Stock Down 1.4 %

Shares of NEE traded down $0.91 during mid-day trading on Friday, reaching $65.99. 9,982,762 shares of the stock traded hands, compared to its average volume of 10,921,297. The firm has a market cap of $135.58 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 2.46 and a beta of 0.51. The stock has a fifty day simple moving average of $60.85 and a 200 day simple moving average of $59.06. NextEra Energy, Inc. has a 12-month low of $47.15 and a 12-month high of $78.53. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 1.12.

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

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s payout ratio is 56.13%.

Wall Street Analyst Weigh In

Several research firms have weighed in on NEE. Bank of America raised their target price on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $74.00 price target on shares of NextEra Energy in a research note on Tuesday, January 30th. Mizuho raised their price target on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank raised their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 22nd. Finally, Barclays initiated coverage on shares of NextEra Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $71.50.

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.