Intact Investment Management Inc. Acquires 10,000 Shares of NextEra Energy, Inc. (NYSE:NEE)

Intact Investment Management Inc. raised its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 12.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 88,300 shares of the utilities provider’s stock after buying an additional 10,000 shares during the quarter. Intact Investment Management Inc.’s holdings in NextEra Energy were worth $6,260,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Bellwether Advisors LLC purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $30,000. WealthTrak Capital Management LLC purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $33,000. Copia Wealth Management purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $36,000. Midwest Capital Advisors LLC purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $44,000. Finally, Promus Capital LLC purchased a new stake in shares of NextEra Energy in the fourth quarter valued at $45,000. Institutional investors own 78.72% of the company’s stock.

Insider Activity

In other news, EVP Charles E. Sieving sold 23,684 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total value of $1,657,880.00. Following the sale, the executive vice president now directly owns 196,817 shares in the company, valued at approximately $13,777,190. This trade represents a 10.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

NEE has been the topic of several recent analyst reports. Erste Group Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. UBS Group reduced their target price on shares of NextEra Energy from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, May 23rd. BMO Capital Markets reduced their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Barclays reduced their price target on shares of NextEra Energy from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.50.

NextEra Energy Trading Up 0.1%

NYSE NEE opened at $71.61 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55. The company has a market capitalization of $147.41 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 2.52 and a beta of 0.68. The company’s 50-day simple moving average is $69.57 and its two-hundred day simple moving average is $70.28. NextEra Energy, Inc. has a one year low of $61.72 and a one year high of $86.10.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, June 2nd. NextEra Energy’s dividend payout ratio is currently 85.02%.

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.