Canada Pension Plan Investment Board Sells 588,400 Shares of NextEra Energy, Inc. (NYSE:NEE)

Canada Pension Plan Investment Board decreased its holdings in shares of NextEra Energy, Inc. (NYSE:NEE) by 14.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,447,025 shares of the utilities provider’s stock after selling 588,400 shares during the quarter. Canada Pension Plan Investment Board owned 0.17% of NextEra Energy worth $244,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. M&G Plc purchased a new stake in NextEra Energy in the first quarter worth $303,065,000. Zimmer Partners LP grew its holdings in shares of NextEra Energy by 8,447.5% in the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after purchasing an additional 2,703,200 shares during the last quarter. State of Michigan Retirement System increased its stake in NextEra Energy by 400.7% in the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after buying an additional 2,250,500 shares during the period. Raymond James & Associates lifted its holdings in NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after buying an additional 2,163,437 shares in the last quarter. Finally, Capital World Investors bought a new stake in NextEra Energy during the 4th quarter valued at about $114,953,000. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NEE shares. Bank of America upped their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays increased their price objective on NextEra Energy from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. Jefferies Financial Group assumed coverage on NextEra Energy in a research report on Thursday. They set a “hold” rating and a $87.00 target price for the company. BMO Capital Markets upped their target price on NextEra Energy from $79.00 to $83.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Mizuho lowered NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price target on the stock. in a research note on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.87.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $82.29 on Friday. The company has a market capitalization of $169.07 billion, a PE ratio of 22.42, a P/E/G ratio of 3.03 and a beta of 0.56. The company has a 50-day simple moving average of $78.20 and a two-hundred day simple moving average of $72.02. NextEra Energy, Inc. has a one year low of $47.15 and a one year high of $85.56. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the business posted $0.88 EPS. Research analysts expect that NextEra Energy, Inc. will post 3.39 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 2.50%. NextEra Energy’s dividend payout ratio is presently 56.13%.

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.