Permanent Capital Management LP Takes $437,000 Position in NextEra Energy, Inc. (NYSE:NEE)

Permanent Capital Management LP bought a new stake in NextEra Energy, Inc. (NYSE:NEE) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 6,096 shares of the utilities provider’s stock, valued at approximately $437,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NEE. Nordea Investment Management AB grew its stake in NextEra Energy by 20.9% in the 4th quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock valued at $634,703,000 after buying an additional 1,525,436 shares during the last quarter. National Bank of Canada FI grew its stake in NextEra Energy by 167.7% in the 3rd quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock valued at $184,795,000 after buying an additional 1,369,689 shares during the last quarter. Proficio Capital Partners LLC grew its position in NextEra Energy by 13,375.2% in the 4th quarter. Proficio Capital Partners LLC now owns 946,231 shares of the utilities provider’s stock worth $67,835,000 after purchasing an additional 939,209 shares during the last quarter. Geode Capital Management LLC grew its position in NextEra Energy by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock worth $3,571,650,000 after purchasing an additional 820,704 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in NextEra Energy by 4.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock worth $1,041,210,000 after purchasing an additional 588,038 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the transaction, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. The trade was a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NEE has been the topic of several research analyst reports. Jefferies Financial Group decreased their price target on shares of NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. BMO Capital Markets raised their price target on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. decreased their price target on shares of NextEra Energy from $99.00 to $90.00 in a research report on Monday, January 27th. Evercore ISI decreased their price target on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Finally, Morgan Stanley raised their price target on shares of NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.85.

NextEra Energy Trading Up 4.1 %

Shares of NEE stock opened at $72.86 on Friday. NextEra Energy, Inc. has a 12-month low of $56.31 and a 12-month high of $86.10. The company has a market capitalization of $149.88 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.45 and a beta of 0.58. The firm has a 50-day moving average price of $70.30 and a 200 day moving average price of $76.07. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. Research analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $0.5665 per share. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, February 28th. NextEra Energy’s dividend payout ratio (DPR) is currently 67.06%.

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.