Permanent Capital Management LP Makes New Investment in NextEra Energy, Inc. (NYSE:NEE)

Permanent Capital Management LP bought a new position in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,096 shares of the utilities provider’s stock, valued at approximately $437,000.

A number of other institutional investors and hedge funds have also modified their holdings of NEE. Nordea Investment Management AB raised its stake in shares of NextEra Energy by 20.9% during the fourth quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock worth $634,703,000 after buying an additional 1,525,436 shares during the last quarter. National Bank of Canada FI raised its stake in shares of NextEra Energy by 167.7% during the third quarter. National Bank of Canada FI now owns 2,186,225 shares of the utilities provider’s stock worth $184,795,000 after buying an additional 1,369,689 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of NextEra Energy by 13,375.2% during the fourth quarter. Proficio Capital Partners LLC now owns 946,231 shares of the utilities provider’s stock worth $67,835,000 after buying an additional 939,209 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of NextEra Energy by 2.0% during the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock worth $3,571,650,000 after buying an additional 820,704 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of NextEra Energy by 4.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock worth $1,041,210,000 after buying an additional 588,038 shares during the last quarter. 78.72% of the stock is owned by institutional investors.

NextEra Energy Stock Up 4.1 %

NextEra Energy stock opened at $72.86 on Friday. The stock has a market capitalization of $149.88 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a twelve month low of $56.31 and a twelve month high of $86.10. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average of $70.30 and a 200-day moving average of $76.07.

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

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $0.5665 per share. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, February 28th. NextEra Energy’s dividend payout ratio is 67.06%.

Insiders Place Their Bets

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the sale, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price target on shares of NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Morgan Stanley boosted their price objective on shares of NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Evercore ISI decreased their price objective on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a report on Monday, January 27th. Scotiabank boosted their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NextEra Energy from $99.00 to $90.00 in a report on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, NextEra Energy has an average rating of “Hold” and a consensus price target of $85.85.

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.