Power Corp of Canada Acquires Shares of 3,969 NextEra Energy, Inc. (NYSE:NEE)

Power Corp of Canada acquired a new stake in NextEra Energy, Inc. (NYSE:NEE – Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,969 shares of the utilities provider’s stock, valued at approximately $311,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hoey Investments Inc. purchased a new position in NextEra Energy in the second quarter valued at $26,000. SRS Capital Advisors Inc. increased its holdings in NextEra Energy by 70.8% in the second quarter. SRS Capital Advisors Inc. now owns 386 shares of the utilities provider’s stock valued at $30,000 after buying an additional 160 shares in the last quarter. Ten Capital Wealth Advisors LLC increased its stake in shares of NextEra Energy by 142.4% during the third quarter. Ten Capital Wealth Advisors LLC now owns 463 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 272 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in shares of NextEra Energy during the third quarter worth about $38,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of NextEra Energy during the second quarter worth about $41,000. Hedge funds and other institutional investors own 76.17% of the company’s stock.

NextEra Energy Stock Performance

NYSE:NEE opened at $75.52 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.51 and a quick ratio of 0.43. The firm has a market capitalization of $150.10 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.59 and a beta of 0.44. The company’s 50-day moving average is $77.06 and its two-hundred day moving average is $80.42. NextEra Energy, Inc. has a 1-year low of $67.22 and a 1-year high of $91.35.

NextEra Energy (NYSE:NEE – Get Rating) last posted its earnings results on Wednesday, January 25th. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a net margin of 19.79% and a return on equity of 12.51%. NextEra Energy’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. Analysts forecast that NextEra Energy, Inc. will post 3.12 EPS for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were issued a $0.4675 dividend. This represents a $1.87 annualized dividend and a yield of 2.48%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Monday, February 27th. NextEra Energy’s payout ratio is presently 89.47%.

Insider Buying and Selling at NextEra Energy

In other news, CEO Armando Pimentel, Jr. bought 13,200 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were bought at an average cost of $75.44 per share, for a total transaction of $995,808.00. Following the acquisition, the chief executive officer now directly owns 129,230 shares of the company’s stock, valued at approximately $9,749,111.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Armando Pimentel, Jr. acquired 13,200 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were purchased at an average cost of $75.44 per share, for a total transaction of $995,808.00. Following the acquisition, the chief executive officer now owns 129,230 shares in the company, valued at approximately $9,749,111.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Terrell Kirk Crews II acquired 2,672 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was bought at an average price of $74.87 per share, for a total transaction of $200,052.64. Following the completion of the acquisition, the chief financial officer now owns 33,170 shares in the company, valued at approximately $2,483,437.90. The disclosure for this purchase can be found here. Insiders have bought 18,872 shares of company stock worth $1,417,721 in the last ninety days. 0.43% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NEE has been the subject of a number of research reports. Bank of America cut shares of NextEra Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $94.00 to $80.00 in a research note on Thursday, January 26th. Guggenheim cut their target price on shares of NextEra Energy from $102.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. Credit Suisse Group cut their target price on shares of NextEra Energy from $89.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, January 26th. Royal Bank of Canada cut their target price on shares of NextEra Energy from $101.00 to $98.00 and set an “outperform” rating for the company in a research note on Monday, January 30th. Finally, StockNews.com raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a research note on Friday, March 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.83.

NextEra Energy Profile

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NextEra Energy, Inc engages in the provision of renewable energy. It operates through the following segments: FPL and NEER. The FPL segment involves the generation, transmission, distribution, and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.