Bank of Nova Scotia Has $73.81 Million Position in NextEra Energy, Inc. (NYSE:NEE)

Bank of Nova Scotia lifted its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 281.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,029,556 shares of the utilities provider's stock after acquiring an additional 759,419 shares during the period. Bank of Nova Scotia owned about 0.05% of NextEra Energy worth $73,809,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NEE. Empowered Funds LLC lifted its position in shares of NextEra Energy by 14.7% in the 4th quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider's stock worth $3,267,000 after buying an additional 5,831 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in NextEra Energy by 2.3% in the fourth quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider's stock worth $130,714,000 after acquiring an additional 41,328 shares during the last quarter. Nordea Investment Management AB boosted its stake in NextEra Energy by 20.9% in the fourth quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider's stock valued at $634,703,000 after acquiring an additional 1,525,436 shares during the period. Czech National Bank grew its holdings in shares of NextEra Energy by 6.5% during the fourth quarter. Czech National Bank now owns 445,870 shares of the utilities provider's stock valued at $31,964,000 after purchasing an additional 27,340 shares during the last quarter. Finally, ST Germain D J Co. Inc. raised its position in shares of NextEra Energy by 5.8% during the 4th quarter. ST Germain D J Co. Inc. now owns 171,735 shares of the utilities provider's stock worth $12,312,000 after purchasing an additional 9,425 shares during the period. Institutional investors and hedge funds own 78.72% of the company's stock.

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NextEra Energy Trading Up 2.8 %

Shares of NEE stock traded up $1.83 during trading hours on Monday, reaching $67.64. 3,291,020 shares of the stock traded hands, compared to its average volume of 12,048,430. 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 firm has a market capitalization of $139.24 billion, a PE ratio of 20.07, a PEG ratio of 2.45 and a beta of 0.58. NextEra Energy, Inc. has a 1-year low of $61.31 and a 1-year high of $86.10. The business has a fifty day moving average price of $69.89 and a 200 day moving average price of $73.78.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 forecast that NextEra Energy, Inc. will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.5665 dividend. This represents a $2.27 annualized dividend and a yield of 3.35%. The ex-dividend date was Friday, February 28th. This is a positive change from NextEra Energy's previous quarterly dividend of $0.52. NextEra Energy's dividend payout ratio is currently 67.06%.

Insiders Place Their Bets

In other 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 value of $162,258.47. Following the transaction, 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 can be accessed through this link. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on NextEra Energy from $95.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and issued a $89.00 price objective on shares of NextEra Energy in a report on Thursday, March 20th. BMO Capital Markets reduced their target price on shares of NextEra Energy from $84.00 to $77.00 and set an "outperform" rating for the company in a research note on Monday. 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. Finally, JPMorgan Chase & Co. boosted their price objective on NextEra Energy from $90.00 to $91.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $85.38.

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.