SouthState Corp Has $15.47 Million Stake in NextEra Energy, Inc. (NYSE:NEE)

SouthState Corp increased its stake in shares of NextEra Energy, Inc. (NYSE:NEE) by 1.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 215,835 shares of the utilities provider’s stock after acquiring an additional 3,149 shares during the period. NextEra Energy accounts for about 1.0% of SouthState Corp’s holdings, making the stock its 27th largest position. SouthState Corp’s holdings in NextEra Energy were worth $15,473,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC grew its holdings in NextEra Energy by 14.7% in the 4th quarter. Empowered Funds LLC now owns 45,566 shares of the utilities provider’s stock valued at $3,267,000 after buying an additional 5,831 shares during the last quarter. Empower Advisory Group LLC grew its holdings in NextEra Energy by 2.3% in the 4th quarter. Empower Advisory Group LLC now owns 1,823,327 shares of the utilities provider’s stock valued at $130,714,000 after buying an additional 41,328 shares during the last quarter. Nordea Investment Management AB grew its holdings in NextEra Energy by 20.9% in the 4th quarter. Nordea Investment Management AB now owns 8,833,725 shares of the utilities provider’s stock valued at $634,703,000 after buying an additional 1,525,436 shares during the last quarter. Swiss National Bank grew its holdings in NextEra Energy by 0.4% in the 3rd quarter. Swiss National Bank now owns 6,098,200 shares of the utilities provider’s stock valued at $515,481,000 after buying an additional 21,400 shares during the last quarter. Finally, Czech National Bank grew its holdings in NextEra Energy by 6.5% in the 4th quarter. Czech National Bank now owns 445,870 shares of the utilities provider’s stock valued at $31,964,000 after buying an additional 27,340 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NEE. JPMorgan Chase & Co. raised their target price on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Evercore ISI reduced their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday, January 27th. Scotiabank raised their price objective on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Morgan Stanley raised their price objective on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets raised their price objective on NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $85.92.

Insider Buying and Selling at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the completion of the sale, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

NextEra Energy Price Performance

NextEra Energy stock opened at $73.59 on Monday. The business has a 50 day simple moving average of $70.51 and a 200 day simple moving average of $75.82. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. NextEra Energy, Inc. has a one year low of $59.44 and a one year high of $86.10. The company has a market capitalization of $151.37 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data 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 return on equity of 11.85% and a net margin of 28.06%. On average, sell-side analysts forecast that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $0.5665 dividend. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date is Friday, February 28th. This represents a $2.27 annualized dividend and a yield of 3.08%. NextEra Energy’s payout ratio is presently 67.06%.

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.