AGF Management Ltd. Has $14.89 Million Stake in NextEra Energy, Inc. (NYSE:NEE)

Key Points

• AGF Management Ltd. significantly reduced its stake in NextEra Energy, cutting its ownership by 82% and now holding 210,061 shares worth approximately $14.89 million.
• NextEra Energy reported a net margin of 22.84% and $6.7 billion in revenue for the last quarter, surpassing earnings expectations with an EPS of $1.05.
• The company announced a quarterly dividend of $0.5665 per share, resulting in an annualized dividend yield of 3.1%, with a payout ratio of 79.37%.

AGF Management Ltd. cut its holdings in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 82.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,061 shares of the utilities provider's stock after selling 957,408 shares during the quarter. AGF Management Ltd.'s holdings in NextEra Energy were worth $14,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NEE. Somerset Trust Co boosted its position in NextEra Energy by 5.2% during the 1st quarter. Somerset Trust Co now owns 89,709 shares of the utilities provider's stock valued at $6,359,000 after purchasing an additional 4,445 shares during the period. Elyxium Wealth LLC acquired a new position in NextEra Energy during the 1st quarter valued at approximately $783,000. Viking Fund Management LLC boosted its position in NextEra Energy by 67.8% during the 1st quarter. Viking Fund Management LLC now owns 495,000 shares of the utilities provider's stock valued at $35,091,000 after purchasing an additional 200,000 shares during the period. Trust Co. of Vermont boosted its position in NextEra Energy by 2.2% during the 1st quarter. Trust Co. of Vermont now owns 385,592 shares of the utilities provider's stock valued at $27,335,000 after purchasing an additional 8,472 shares during the period. Finally, GAMMA Investing LLC boosted its position in NextEra Energy by 20.7% during the 1st quarter. GAMMA Investing LLC now owns 34,681 shares of the utilities provider's stock valued at $2,459,000 after purchasing an additional 5,949 shares during the period. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NextEra Energy news, Treasurer James Michael May sold 2,177 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total value of $168,717.50. Following the completion of the sale, the treasurer owned 27,662 shares in the company, valued at approximately $2,143,805. This trade represents a 7.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert Coffey sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $71.84, for a total value of $538,800.00. Following the completion of the sale, the executive vice president owned 26,539 shares of the company's stock, valued at $1,906,561.76. This represents a 22.03% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

NextEra Energy Stock Performance

NYSE:NEE traded up $3.16 during mid-day trading on Friday, hitting $75.40. 23,396,505 shares of the company's stock traded hands, compared to its average volume of 8,521,072. The firm has a 50 day moving average of $72.75 and a two-hundred day moving average of $70.61. NextEra Energy, Inc. has a 12 month low of $61.72 and a 12 month high of $86.10. The firm has a market capitalization of $155.27 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.63. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%. The firm had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the company earned $0.96 EPS. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that NextEra Energy, Inc. will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, August 28th will be given a $0.5665 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. NextEra Energy's dividend payout ratio (DPR) is currently 79.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reduced their price target on NextEra Energy from $86.00 to $82.00 in a research report on Thursday, July 3rd. Wells Fargo & Company reduced their price target on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. HSBC reduced their price target on NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Finally, UBS Group reduced their price target on NextEra Energy from $94.00 to $84.00 and set a "buy" rating for the company in a research report on Friday, May 23rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.42.

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.