Ninepoint Partners LP Makes New Investment in NextEra Energy, Inc. (NYSE:NEE)

Ninepoint Partners LP bought a new position in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,362 shares of the utilities provider’s stock, valued at approximately $1,237,000. NextEra Energy accounts for about 0.1% of Ninepoint Partners LP’s investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in NEE. United Bank lifted its position in NextEra Energy by 9.8% in the first quarter. United Bank now owns 9,966 shares of the utilities provider’s stock worth $844,000 after purchasing an additional 891 shares during the period. LSV Asset Management lifted its position in NextEra Energy by 9.2% in the first quarter. LSV Asset Management now owns 32,180 shares of the utilities provider’s stock worth $2,726,000 after purchasing an additional 2,700 shares during the period. Brown Brothers Harriman & Co. lifted its position in NextEra Energy by 11.2% in the first quarter. Brown Brothers Harriman & Co. now owns 15,731 shares of the utilities provider’s stock worth $1,333,000 after purchasing an additional 1,587 shares during the period. Covestor Ltd lifted its position in shares of NextEra Energy by 59.1% during the 1st quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock valued at $74,000 after acquiring an additional 326 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in shares of NextEra Energy during the 1st quarter valued at $793,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Stock Up 1.2 %

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

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

NextEra Energy Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on NEE. Guggenheim increased their price objective on NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Mizuho reiterated a “buy” rating and set a $67.00 price objective (up previously from $65.00) on shares of NextEra Energy in a research report on Friday, March 15th. BMO Capital Markets cut 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. Barclays began 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. Finally, Wells Fargo & Company increased their price objective on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average target price of $71.36.

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.