Intact Investment Management Inc. Cuts Stake in NextEra Energy, Inc. (NYSE:NEE)

Intact Investment Management Inc. lowered its position in shares of NextEra Energy, Inc. (NYSE:NEE) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,680 shares of the utilities provider’s stock after selling 9,270 shares during the quarter. Intact Investment Management Inc.’s holdings in NextEra Energy were worth $16,879,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new position in shares of NextEra Energy in the 3rd quarter valued at about $27,000. Semmax Financial Advisors Inc. increased its holdings in shares of NextEra Energy by 197.4% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 225 shares in the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of NextEra Energy by 64.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 144 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of NextEra Energy in the 2nd quarter valued at about $33,000. Finally, Maryland Capital Advisors Inc. purchased a new position in shares of NextEra Energy in the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

NextEra Energy stock opened at $77.35 on Monday. NextEra Energy, Inc. has a 12-month low of $53.81 and a 12-month high of $86.10. The stock has a market capitalization of $159.06 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.86 and a beta of 0.57. The firm’s 50-day moving average is $82.39 and its two-hundred day moving average is $76.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33.

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

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.66%. NextEra Energy’s dividend payout ratio is presently 60.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEE. Morgan Stanley increased their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Scotiabank increased their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. BMO Capital Markets increased their price objective on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company increased their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.54.

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.