CIBC Asset Management Inc Increases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

CIBC Asset Management Inc lifted its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 420,602 shares of the utilities provider’s stock after purchasing an additional 2,995 shares during the period. CIBC Asset Management Inc’s holdings in NextEra Energy were worth $35,553,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NEE. Legal & General Group Plc grew its holdings in shares of NextEra Energy by 0.7% in the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after acquiring an additional 143,748 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in NextEra Energy by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock worth $579,097,000 after purchasing an additional 691,341 shares during the last quarter. Raymond James & Associates grew its stake in NextEra Energy by 14.3% in the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after purchasing an additional 851,873 shares during the period. Principal Financial Group Inc. raised its stake in shares of NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after purchasing an additional 409,708 shares during the period. Finally, Bahl & Gaynor Inc. boosted its holdings in shares of NextEra Energy by 6.9% in the 2nd quarter. Bahl & Gaynor Inc. now owns 5,981,760 shares of the utilities provider’s stock worth $423,568,000 after buying an additional 388,149 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target on the stock. Barclays increased their price objective on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Bank of America boosted their target price on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley increased their price target on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $86.54.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares of the company’s stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $76.33 on Friday. NextEra Energy, Inc. has a 12 month low of $53.95 and a 12 month high of $86.10. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The stock has a market cap of $156.97 billion, a P/E ratio of 22.58, a P/E/G ratio of 2.68 and a beta of 0.57. The company has a 50 day moving average of $81.60 and a 200 day moving average of $77.35.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The firm had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, sell-side analysts forecast that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is 60.95%.

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.