SouthState Corp Increases Stock Position in NextEra Energy, Inc. (NYSE:NEE)

SouthState Corp raised its holdings in NextEra Energy, Inc. (NYSE:NEE) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 215,835 shares of the utilities provider’s stock after purchasing an additional 3,149 shares during the quarter. NextEra Energy comprises approximately 1.0% of SouthState Corp’s portfolio, making the stock its 27th largest holding. SouthState Corp’s holdings in NextEra Energy were worth $15,473,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Second Line Capital LLC raised its position in shares of NextEra Energy by 4.7% during the 3rd quarter. Second Line Capital LLC now owns 3,097 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 139 shares in the last quarter. Drive Wealth Management LLC raised its position in shares of NextEra Energy by 2.8% during the 3rd quarter. Drive Wealth Management LLC now owns 5,332 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 145 shares in the last quarter. Accel Wealth Management raised its position in shares of NextEra Energy by 1.7% during the 4th quarter. Accel Wealth Management now owns 8,615 shares of the utilities provider’s stock valued at $618,000 after acquiring an additional 145 shares in the last quarter. L.M. Kohn & Company raised its position in shares of NextEra Energy by 1.0% during the 4th quarter. L.M. Kohn & Company now owns 15,353 shares of the utilities provider’s stock valued at $1,101,000 after acquiring an additional 145 shares in the last quarter. Finally, 1ST Source Bank raised its position in shares of NextEra Energy by 0.4% during the 3rd quarter. 1ST Source Bank now owns 34,178 shares of the utilities provider’s stock valued at $2,889,000 after acquiring an additional 147 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Stock Up 1.2 %

Shares of NextEra Energy stock opened at $73.59 on Monday. The stock has a 50-day moving average price of $70.51 and a 200 day moving average price of $75.82. The company has a market cap of $151.37 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.45 and a beta of 0.58. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. NextEra Energy, Inc. has a 1 year low of $59.44 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, analysts expect that NextEra Energy, Inc. will post 3.68 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently announced 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 a positive change from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, February 28th. NextEra Energy’s dividend payout ratio is presently 67.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Scotiabank upped their price target on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their price target on NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Evercore ISI lowered their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. BMO Capital Markets upped their price objective on NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Finally, Morgan Stanley upped their price objective on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Eight 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 stock currently has a consensus rating of “Hold” and a consensus price target of $85.92.

Insiders Place Their Bets

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was 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 $1,867,504.43. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

NextEra Energy 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.