Canada Pension Plan Investment Board Cuts Stake in NextEra Energy, Inc. $NEE

Canada Pension Plan Investment Board reduced its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 27.5% during the 1st quarter, HoldingsChannel reports. The fund owned 2,521,364 shares of the utilities provider’s stock after selling 955,286 shares during the period. Canada Pension Plan Investment Board’s holdings in NextEra Energy were worth $178,739,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NEE. IMA Advisory Services Inc. purchased a new position in NextEra Energy in the first quarter valued at approximately $35,000. Copia Wealth Management purchased a new position in NextEra Energy in the fourth quarter valued at approximately $36,000. CBIZ Investment Advisory Services LLC raised its holdings in NextEra Energy by 237.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 520 shares of the utilities provider’s stock valued at $37,000 after buying an additional 366 shares during the period. Hughes Financial Services LLC purchased a new position in NextEra Energy in the first quarter valued at approximately $40,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in NextEra Energy by 543.3% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 579 shares of the utilities provider’s stock valued at $41,000 after buying an additional 489 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Treasurer James Michael May sold 2,177 shares of the firm’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares of the company’s stock, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Coffey sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total transaction of $538,800.00. Following the sale, the executive vice president directly owned 26,539 shares of the company’s stock, valued at $1,906,561.76. The trade was a 22.03% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

NextEra Energy Trading Down 0.1%

NEE opened at $72.03 on Friday. The firm has a market capitalization of $148.34 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.48 and a beta of 0.63. The firm’s 50 day moving average is $73.20 and its 200-day moving average is $70.94. NextEra Energy, Inc. has a 52-week low of $61.72 and a 52-week high of $86.10. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. NextEra Energy had a net margin of 22.84% and a return on equity of 12.31%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. Analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.5665 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.1%. NextEra Energy’s dividend payout ratio (DPR) is presently 79.37%.

Analysts Set New Price Targets

Several research firms recently commented on NEE. BMO Capital Markets raised their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Morgan Stanley restated an “overweight” rating on shares of NextEra Energy in a report on Thursday, August 21st. JPMorgan Chase & Co. raised their price target on shares of NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Melius Research upgraded shares of NextEra Energy to a “strong-buy” rating in a report on Wednesday, August 20th. Finally, Mizuho set a $78.00 price target on shares of NextEra Energy in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

NextEra Energy Company 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.