Ilmarinen Mutual Pension Insurance Co Increases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

Ilmarinen Mutual Pension Insurance Co grew its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 213,000 shares of the utilities provider’s stock after acquiring an additional 3,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in NextEra Energy were worth $16,418,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sageworth Trust Co boosted its holdings in shares of NextEra Energy by 1,794.1% during the 1st quarter. Sageworth Trust Co now owns 322 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 305 shares during the last quarter. Your Advocates Ltd. LLP bought a new position in shares of NextEra Energy in the 1st quarter worth approximately $31,000. Magellan Asset Management Ltd bought a new position in shares of NextEra Energy in the 1st quarter worth approximately $32,000. Ahrens Investment Partners LLC bought a new position in shares of NextEra Energy in the 1st quarter worth approximately $35,000. Finally, Portland Hill Asset Management Ltd bought a new position in shares of NextEra Energy in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

NextEra Energy Price Performance

NEE stock opened at $67.73 on Wednesday. NextEra Energy, Inc. has a one year low of $65.36 and a one year high of $90.47. The company’s fifty day moving average price is $70.05 and its 200-day moving average price is $73.47. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.45 and a current ratio of 0.53. The company has a market capitalization of $137.07 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.54 and a beta of 0.47.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, July 25th. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. NextEra Energy had a net margin of 30.05% and a return on equity of 12.25%. The firm had revenue of $7.35 billion for the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.11 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 30th will be paid a dividend of $0.4675 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Tuesday, August 29th. NextEra Energy’s payout ratio is 46.29%.

Insider Activity at NextEra Energy

In other NextEra Energy news, Director Kirk S. Hachigian purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $67.95 per share, with a total value of $679,500.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $1,019,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NextEra Energy news, Director James Lawrence Camaren purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $67.85 per share, with a total value of $271,400.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $542,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kirk S. Hachigian purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $67.95 per share, for a total transaction of $679,500.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $1,019,250. The disclosure for this purchase can be found here. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEE. Guggenheim lowered their price objective on shares of NextEra Energy from $92.00 to $86.00 in a research note on Friday, July 7th. StockNews.com assumed coverage on shares of NextEra Energy in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Royal Bank of Canada decreased their target price on shares of NextEra Energy from $90.00 to $89.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 6th. Morgan Stanley lowered their price target on shares of NextEra Energy from $93.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Finally, The Goldman Sachs Group began coverage on shares of NextEra Energy in a report on Wednesday, June 7th. They set a “buy” rating and a $90.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.90.

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, coal, and natural gas facilities. 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.