Ninepoint Partners LP Takes $1.24 Million Position in NextEra Energy, Inc. (NYSE:NEE)

Ninepoint Partners LP acquired a new stake in NextEra Energy, Inc. (NYSE:NEE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 20,362 shares of the utilities provider’s stock, valued at approximately $1,237,000. NextEra Energy comprises 0.1% of Ninepoint Partners LP’s portfolio, making the stock its 24th biggest position.

A number of other hedge funds have also made changes to their positions in NEE. Coppell Advisory Solutions LLC purchased a new position in NextEra Energy during the 2nd quarter worth approximately $32,000. BOK Financial Private Wealth Inc. purchased a new position in NextEra Energy during the 4th quarter worth approximately $29,000. GeoWealth Management LLC grew its stake in NextEra Energy by 124.1% during the 1st quarter. GeoWealth Management LLC now owns 549 shares of the utilities provider’s stock worth $42,000 after buying an additional 304 shares during the last quarter. Rakuten Securities Inc. purchased a new position in NextEra Energy during the 4th quarter worth approximately $34,000. Finally, Alaska Permanent Fund Corp grew its stake in NextEra Energy by 59.8% during the 3rd quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Price Performance

NYSE NEE traded up $0.76 during mid-day trading on Friday, hitting $64.77. The stock had a trading volume of 5,633,977 shares, compared to its average volume of 11,765,949. NextEra Energy, Inc. has a 52-week low of $47.15 and a 52-week high of $79.78. The company has a market cap of $132.94 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.29 and a beta of 0.51. The company has a 50 day simple moving average of $59.73 and a 200 day simple moving average of $58.43. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.06.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the business posted $0.51 EPS. Equities analysts forecast that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. This represents a $2.06 annualized dividend and a yield of 3.18%. NextEra Energy’s dividend payout ratio (DPR) is presently 57.06%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. StockNews.com downgraded NextEra Energy from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Barclays initiated coverage on NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. Guggenheim increased their price objective on NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets decreased their price objective on NextEra Energy from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, NextEra Energy has an average rating of “Moderate Buy” and a consensus price target of $71.36.

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.