NextEra Energy

NextEra Energy (NEE) has rallied the most among its peer stocks this year. The Vanguard Group is the largest institutional investor in the renewables titan. It added net ~0.8 million shares of NEE to its existing holdings in the third quarter. According to its latest filing, Vanguard Group held 41.2 million or 8.6% of NEE’s total outstanding shares on September 30. In the second quarter, Vanguard held 40.4 million total NEE shares.

Are Institutional Investors Positive on NextEra Energy?

Institutional activity in NEE

State Street Global Advisors, the second-largest investor in NEE, increased its stake in the utility during the third quarter. On September 30, it held 4.8% of its total outstanding shares with ~23.04 million shares. Wellington Management sold net 200,000 shares of NextEra Energy in the third quarter. It held 3.6%, or 17.1 million shares, in NEE on September 30.

J.P. Morgan Asset Management added 1.1 million shares and raised its entire stake in the utility to 2.3%.

NextEra Energy has been reporting strong quarterly earnings growth over the last several quarters, which has been contributing to its market performance. It’s expected to grow its EPS ~7% per year going forward, making it one of the fastest-growing utilities (XLU). NextEra Energy’s strong market performance and superior dividend growth have outperformed peers over the last several years in terms of total returns. See These S&P 500 Utilities Have Delivered the Best Five-Year Returns.

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