PGGM Investments Buys 924,003 Shares of NextEra Energy, Inc. $NEE

Key Points

• PGGM Investments significantly increased its stake in NextEra Energy, acquiring an additional 924,003 shares for a total of 1,301,306 shares, making it the firm's 24th biggest position.
• Several research firms have recently updated their ratings and price targets for NextEra Energy, with Mizuho setting a price target of $78.00 and HSBC lowering theirs to $86.00.
• NextEra Energy declared a quarterly dividend of $0.5665 per share, resulting in an annualized dividend yield of 3.0%, with a payout ratio of 79.37% as of the last quarter.

PGGM Investments raised its stake in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 244.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,301,306 shares of the utilities provider's stock after purchasing an additional 924,003 shares during the quarter. NextEra Energy accounts for about 1.6% of PGGM Investments' investment portfolio, making the stock its 24th biggest position. PGGM Investments owned about 0.06% of NextEra Energy worth $90,337,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arkfeld Wealth Strategies L.L.C. boosted its position in NextEra Energy by 0.9% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 15,249 shares of the utilities provider's stock worth $1,140,000 after buying an additional 136 shares during the period. Pine Haven Investment Counsel Inc raised its holdings in NextEra Energy by 2.3% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 6,350 shares of the utilities provider's stock worth $441,000 after purchasing an additional 140 shares during the last quarter. Tradition Wealth Management LLC raised its holdings in NextEra Energy by 2.2% during the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock worth $470,000 after purchasing an additional 143 shares during the last quarter. Eagle Wealth Strategies LLC raised its holdings in NextEra Energy by 1.4% during the 2nd quarter. Eagle Wealth Strategies LLC now owns 11,154 shares of the utilities provider's stock worth $774,000 after purchasing an additional 149 shares during the last quarter. Finally, XML Financial LLC raised its holdings in NextEra Energy by 1.0% during the 2nd quarter. XML Financial LLC now owns 16,447 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 78.72% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEE. Mizuho set a $78.00 price target on shares of NextEra Energy in a report on Thursday, August 21st. HSBC lowered their price target on shares of NextEra Energy from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, July 11th. Melius Research upgraded shares of NextEra Energy to a "strong-buy" rating in a research note on Wednesday, August 20th. Morgan Stanley reiterated an "overweight" rating and issued a $95.00 price objective (down previously from $96.00) on shares of NextEra Energy in a research note on Thursday, September 25th. Finally, Barclays boosted their price target on shares of NextEra Energy from $65.00 to $67.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $84.08.

Insider Activity at NextEra Energy

In related news, EVP Mark Lemasney sold 846 shares of the business's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $74.90, for a total value of $63,365.40. Following the transaction, the executive vice president directly owned 9,267 shares of the company's stock, valued at approximately $694,098.30. The trade was a 8.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Treasurer James Michael May sold 2,177 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $77.50, for a total transaction of $168,717.50. Following the completion of the transaction, the treasurer directly owned 27,662 shares in the company, valued at $2,143,805. This trade represents a 7.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,369 shares of company stock valued at $1,539,610 over the last quarter. Corporate insiders own 0.18% of the company's stock.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $75.50 on Wednesday. The company's 50-day moving average is $72.59 and its 200 day moving average is $71.12. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company has a market capitalization of $155.48 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.62 and a beta of 0.65. NextEra Energy, Inc. has a fifty-two week low of $61.72 and a fifty-two week high of $86.10.

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

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, August 28th were issued a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, August 28th. NextEra Energy's payout ratio is 79.37%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.