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

SouthState Corp boosted its holdings in NextEra Energy, Inc. (NYSE:NEE) by 33.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 212,686 shares of the utilities provider’s stock after purchasing an additional 53,832 shares during the quarter. NextEra Energy comprises 1.2% of SouthState Corp’s portfolio, making the stock its 25th largest position. SouthState Corp’s holdings in NextEra Energy were worth $17,978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Proffitt & Goodson Inc. lifted its stake in shares of NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after buying an additional 144 shares in the last quarter. Semmax Financial Advisors Inc. raised its position in NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 225 shares during the period. Reston Wealth Management LLC bought a new position in NextEra Energy in the third quarter worth approximately $27,000. Valley Wealth Managers Inc. bought a new position in NextEra Energy in the second quarter worth approximately $33,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of NextEra Energy in the third quarter worth $39,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Stock Up 0.1 %

NYSE:NEE opened at $76.39 on Tuesday. The company has a market cap of $157.09 billion, a PE ratio of 22.60, a P/E/G ratio of 2.76 and a beta of 0.57. NextEra Energy, Inc. has a twelve month low of $53.95 and a twelve month high of $86.10. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The company’s 50 day moving average is $81.43 and its two-hundred day moving average is $77.60.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business had revenue of $7.57 billion during the quarter, compared to analysts’ expectations of $8.11 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts anticipate that NextEra Energy, Inc. will post 3.41 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio is currently 60.95%.

Analysts Set New Price Targets

NEE has been the subject of a number of analyst reports. Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Bank of America raised their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, NextEra Energy currently has a consensus rating of “Hold” and a consensus target price of $86.54.

Insider Activity at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the transaction, the executive vice president now directly owns 15,792 shares in the company, valued at $1,193,401.44. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

About NextEra Energy

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.