Connor Clark & Lunn Investment Management Ltd. Makes New $1.97 Million Investment in NextEra Energy, Inc. $NEE

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in NextEra Energy, Inc. (NYSE:NEE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 28,358 shares of the utilities provider’s stock, valued at approximately $1,969,000.

Several other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of NextEra Energy by 8.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,203,645 shares of the utilities provider’s stock worth $291,817,000 after purchasing an additional 339,091 shares during the period. Parkside Financial Bank & Trust increased its stake in NextEra Energy by 7.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 31,749 shares of the utilities provider’s stock worth $2,204,000 after acquiring an additional 2,118 shares during the period. Magellan Asset Management Ltd raised its holdings in NextEra Energy by 17.7% in the 2nd quarter. Magellan Asset Management Ltd now owns 466,670 shares of the utilities provider’s stock valued at $32,396,000 after acquiring an additional 70,081 shares in the last quarter. Aviva PLC lifted its position in shares of NextEra Energy by 10.3% during the 2nd quarter. Aviva PLC now owns 2,102,379 shares of the utilities provider’s stock valued at $145,947,000 after acquiring an additional 196,206 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in shares of NextEra Energy by 24.1% during the 2nd quarter. Prospera Financial Services Inc now owns 112,399 shares of the utilities provider’s stock worth $7,804,000 after purchasing an additional 21,855 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on NEE. Melius Research raised NextEra Energy to a “strong-buy” rating in a research note on Wednesday, August 20th. New Street Research set a $84.00 target price on shares of NextEra Energy in a report on Monday, October 13th. HSBC upped their price target on shares of NextEra Energy from $94.00 to $95.00 in a report on Monday, November 10th. Barclays set a $88.00 price objective on shares of NextEra Energy and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, August 22nd. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.53.

NextEra Energy Stock Performance

NYSE NEE opened at $83.84 on Monday. The firm’s fifty day moving average price is $79.50 and its two-hundred day moving average price is $74.69. The stock has a market cap of $174.60 billion, a PE ratio of 26.70, a PEG ratio of 2.76 and a beta of 0.69. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $87.53.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter last year, the business posted $1.03 EPS. NextEra Energy’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, November 21st. NextEra Energy’s dividend payout ratio (DPR) is 71.97%.

Insider Buying and Selling

In other news, EVP Mark Lemasney sold 846 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $74.90, for a total transaction of $63,365.40. Following the completion of the transaction, the executive vice president owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. This trade represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Dunne sold 10,000 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the completion of the sale, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. This represents a 13.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,028 shares of company stock worth $1,738,973 in the last ninety days. Company insiders own 0.20% of the company’s stock.

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.