CIBC Asset Management Inc Grows Holdings in NextEra Energy, Inc. (NYSE:NEE)

CIBC Asset Management Inc raised its position in NextEra Energy, Inc. (NYSE:NEE) by 0.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 422,636 shares of the utilities provider’s stock after purchasing an additional 2,034 shares during the period. CIBC Asset Management Inc’s holdings in NextEra Energy were worth $30,299,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in NextEra Energy during the third quarter worth $27,000. Burkett Financial Services LLC increased its position in shares of NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 332 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of NextEra Energy during the 4th quarter worth $28,000. Quarry LP purchased a new position in shares of NextEra Energy in the 3rd quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. bought a new position in NextEra Energy during the third quarter valued at about $39,000. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Trading Down 0.8 %

Shares of NextEra Energy stock opened at $68.06 on Tuesday. The company’s 50-day moving average price is $70.97 and its 200-day moving average price is $76.84. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. The company has a market cap of $139.97 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 2.42 and a beta of 0.58. NextEra Energy, Inc. has a 12-month low of $53.95 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, meeting 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 analysts expect that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $0.5665 dividend. This represents a $2.27 annualized dividend and a dividend yield of 3.33%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio (DPR) is presently 61.13%.

Wall Street Analyst Weigh In

Several analysts have commented on NEE shares. Evercore ISI lowered their price objective on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. BMO Capital Markets upped their price objective on NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Scotiabank upped their price target on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. Finally, Guggenheim lifted their price objective on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, NextEra Energy has an average rating of “Hold” and a consensus price target of $85.85.

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,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.