Intact Investment Management Inc. Buys 11,400 Shares of NextEra Energy, Inc. (NYSE:NEE)

Intact Investment Management Inc. raised its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,600 shares of the utilities provider’s stock after acquiring an additional 11,400 shares during the quarter. Intact Investment Management Inc.’s holdings in NextEra Energy were worth $9,512,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Greenfield Savings Bank lifted its holdings in shares of NextEra Energy by 0.5% during the fourth 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 during the period. Bay Harbor Wealth Management LLC lifted its holdings in shares of NextEra Energy by 22.7% during the fourth 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 during the period. MKT Advisors LLC increased its stake in shares of NextEra Energy by 2.9% in the fourth quarter. MKT Advisors LLC now owns 6,233 shares of the utilities provider’s stock valued at $387,000 after buying an additional 173 shares in the last quarter. Meritage Portfolio Management increased its stake in shares of NextEra Energy by 3.9% in the third quarter. Meritage Portfolio Management now owns 4,701 shares of the utilities provider’s stock valued at $269,000 after buying an additional 177 shares in the last quarter. Finally, First Pacific Financial increased its stake in shares of NextEra Energy by 2.0% in the fourth quarter. First Pacific Financial now owns 8,885 shares of the utilities provider’s stock valued at $540,000 after buying an additional 177 shares in the last quarter. 78.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEE. Mizuho raised their target price on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays began coverage on NextEra Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 target price on shares of NextEra Energy in a research note on Tuesday, January 30th. Scotiabank raised their target price on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, April 22nd. Finally, StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.50.

NextEra Energy Trading Down 1.4 %

Shares of NextEra Energy stock traded down $0.91 during trading on Friday, hitting $65.99. 9,982,762 shares of the company were exchanged, compared to its average volume of 10,921,297. The firm has a market capitalization of $135.58 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.46 and a beta of 0.51. NextEra Energy, Inc. has a 1-year low of $47.15 and a 1-year high of $78.53. The firm’s fifty day moving average price is $60.85 and its 200 day moving average price is $59.06. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.47.

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

NextEra Energy Increases Dividend

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

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.