iA Global Asset Management Inc. Acquires New Position in NextEra Energy, Inc. $NEE

iA Global Asset Management Inc. acquired a new stake in shares of NextEra Energy, Inc. (NYSE:NEE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,330 shares of the utilities provider’s stock, valued at approximately $648,000.

A number of other hedge funds also recently made changes to their positions in the stock. Daymark Wealth Partners LLC raised its holdings in NextEra Energy by 6.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 45,015 shares of the utilities provider’s stock valued at $3,125,000 after buying an additional 2,767 shares during the period. Avity Investment Management Inc. increased its stake in NextEra Energy by 1.7% in the second quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider’s stock worth $35,162,000 after purchasing an additional 8,565 shares during the period. Integrity Alliance LLC. increased its stake in NextEra Energy by 41.8% in the first quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider’s stock worth $1,779,000 after purchasing an additional 7,401 shares during the period. Elyxium Wealth LLC purchased a new stake in NextEra Energy in the first quarter worth $783,000. Finally, Czech National Bank increased its stake in NextEra Energy by 6.5% in the second quarter. Czech National Bank now owns 503,202 shares of the utilities provider’s stock worth $34,932,000 after purchasing an additional 30,878 shares during the period. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Price Performance

Shares of NEE stock opened at $81.90 on Tuesday. NextEra Energy, Inc. has a 1-year low of $61.72 and a 1-year high of $87.53. The stock’s 50-day moving average is $77.44 and its 200 day moving average is $73.59. The company has a market cap of $170.56 billion, a P/E ratio of 26.08, a PEG ratio of 2.76 and a beta of 0.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.55 and a quick ratio of 0.45.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts predict that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be given a dividend of $0.5665 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a yield of 2.8%. NextEra Energy’s dividend payout ratio (DPR) is presently 71.97%.

Insider Activity at NextEra Energy

In related news, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $80.00, for a total transaction of $906,880.00. Following the sale, the executive vice president owned 167,481 shares of the company’s stock, valued at $13,398,480. This trade represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Dunne sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $70.79, for a total value of $707,900.00. Following the sale, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. The trade was a 13.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,028 shares of company stock valued at $1,738,973 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NEE has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded NextEra Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Morgan Stanley reiterated an “overweight” rating and issued a $95.00 target price (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Citigroup reiterated a “buy” rating and issued a $96.00 target price (up previously from $84.00) on shares of NextEra Energy in a research note on Wednesday, October 29th. Melius initiated coverage on NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 target price on the stock. Finally, Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target (up previously from $77.00) on shares of NextEra Energy in a research report on Tuesday, October 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.22.

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.