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NextEra Energy: Institutional Activity in Q4

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Feb. 20 2019, Published 8:02 a.m. ET

NextEra Energy

In this series, we’ll analyze the institutional activity in utilities during the fourth quarter. The Vanguard Group was the largest institutional investor in NextEra Energy (NEE) at the end of the fourth quarter. The Vanguard Group added net 1.4 million shares of NextEra Energy to its existing holdings during the fourth quarter. According to the latest 13F filing, the Vanguard Group held 42.6 million or 8.9% of NextEra Energy’s total outstanding shares on December 31. In the third quarter, the Vanguard Group held 41.2 million total NextEra Energy shares.

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Notable additions

Among the notable additions, BlackRock Institutional Trust added 1.5 million shares of NextEra Energy and held ~5.1% of its total outstanding shares as of December 31. Black Rock Institutional Trust has been adding NextEra Energy to its holdings for the past few quarters. In the third quarter, BlackRock added net 180,000 shares.

Wellington Management and T. Rowe Price trimmed their positions in the biggest utility during the quarter. They sold ~1.9 million and ~1.5 million shares, respectively, in the fourth quarter. Wellington Management cut its stake in NextEra Energy in the third quarter.

NextEra Energy has been reporting strong quarterly earnings growth for the past few quarters, which has been contributing to its market performance. NextEra Energy has risen ~18% in the last 12 months and outperformed broader utilities (XLU). NextEra Energy has shown significant dividend growth in the last five years. The company offers a dividend yield of 2.7%—the lowest among the top utilities.

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