CIBC Asset Management Inc Acquires 2,034 Shares of NextEra Energy, Inc. (NYSE:NEE)

CIBC Asset Management Inc lifted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 422,636 shares of the utilities provider’s stock after buying an additional 2,034 shares during the quarter. CIBC Asset Management Inc’s holdings in NextEra Energy were worth $30,299,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tandem Capital Management Corp ADV increased its position in NextEra Energy by 1.3% during the third quarter. Tandem Capital Management Corp ADV now owns 9,935 shares of the utilities provider’s stock worth $840,000 after acquiring an additional 125 shares during the period. Insight Folios Inc grew its position in shares of NextEra Energy by 1.5% during the 3rd quarter. Insight Folios Inc now owns 8,439 shares of the utilities provider’s stock worth $713,000 after purchasing an additional 126 shares in the last quarter. Taylor & Morgan Wealth Management LLC increased its holdings in shares of NextEra Energy by 1.7% during the third quarter. Taylor & Morgan Wealth Management LLC now owns 7,744 shares of the utilities provider’s stock worth $655,000 after purchasing an additional 126 shares during the period. Osborne Partners Capital Management LLC raised its position in shares of NextEra Energy by 1.2% in the third quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock valued at $906,000 after buying an additional 128 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its stake in shares of NextEra Energy by 0.4% in the third quarter. Boston Trust Walden Corp now owns 30,720 shares of the utilities provider’s stock valued at $2,597,000 after buying an additional 130 shares during the period. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

NextEra Energy stock opened at $68.06 on Tuesday. The stock’s 50 day moving average is $70.97 and its 200 day moving average is $76.84. NextEra Energy, Inc. has a one year low of $53.95 and a one year high of $86.10. The firm has a market cap of $139.97 billion, a P/E ratio of 20.20, a P/E/G ratio of 2.42 and a beta of 0.58. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. As a group, research analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $0.5665 per share. This represents a $2.27 annualized dividend and a yield of 3.33%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio (DPR) is currently 61.13%.

Analyst Ratings Changes

NEE has been the topic of several analyst reports. Evercore ISI reduced their target price on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Barclays raised their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price target on shares of NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Guggenheim boosted their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $85.85.

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.