Hedge Funds Are Buying NextEra Energy, Inc. (NEE)

As industrywide interest jumped, some big names have been driving this bullishness. Zimmer Partners, managed by Stuart J. Zimmer, created the biggest position in NextEra Energy Inc (NYSE:NEE). The fund had $91.5 million invested in the company at the end of the quarter. Jonathan Barrett and Paul Segal’s Luminus Management also initiated a $68.5 million position during the quarter. The other funds with new positions in the stock are John Burbank’s Passport Capital, Jos Shaver’s Electron Capital Partners, and David Harding’s Winton Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as NextEra Energy Inc (NYSE:NEE) but similarly valued. We will take a look at American International Group Inc (NYSE:AIG), Duke Energy Corp (NYSE:DUK), The Bank of Nova Scotia (USA) (NYSE:BNS), and Eni SpA (ADR) (NYSE:E). All of these stocks’ market caps are closest to NEE’s market cap.

As you can see these stocks had an average of 30 hedge funds with bullish positions and the average amount invested in these stocks was $1.98 billion. That figure was a modest $997 million in NEE’s case. American International Group Inc (NYSE:AIG) is the most popular stock in this table. On the other hand Eni SpA (ADR) (NYSE:E) is the least popular one with only 4 bullish hedge fund positions. NextEra Energy Inc (NYSE:NEE) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard AIG might be a better candidate to consider taking a long position in.

Disclosure: none.