SouthState Corp Buys 53,832 Shares of NextEra Energy, Inc. (NYSE:NEE)

SouthState Corp grew its position in shares of NextEra Energy, Inc. (NYSE:NEE - Free Report) by 33.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212,686 shares of the utilities provider's stock after purchasing an additional 53,832 shares during the period. NextEra Energy makes up approximately 1.2% of SouthState Corp's investment portfolio, making the stock its 25th biggest position. SouthState Corp's holdings in NextEra Energy were worth $17,978,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its stake in NextEra Energy by 26.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 147,600 shares of the utilities provider's stock worth $9,433,000 after purchasing an additional 30,457 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in NextEra Energy by 90.7% in the first quarter. Lake Street Advisors Group LLC now owns 26,660 shares of the utilities provider's stock worth $1,704,000 after purchasing an additional 12,681 shares during the last quarter. Pitcairn Co. grew its holdings in NextEra Energy by 3.1% in the first quarter. Pitcairn Co. now owns 32,608 shares of the utilities provider's stock worth $2,084,000 after purchasing an additional 985 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in NextEra Energy by 2.8% in the first quarter. Evermay Wealth Management LLC now owns 22,234 shares of the utilities provider's stock worth $1,421,000 after purchasing an additional 607 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of NextEra Energy during the first quarter valued at $336,000. Hedge funds and other institutional investors own 78.72% of the company's stock.

NextEra Energy Stock Performance

Shares of NYSE:NEE traded up $0.69 during midday trading on Tuesday, hitting $77.08. The stock had a trading volume of 4,843,746 shares, compared to its average volume of 10,916,789. The company has a market capitalization of $158.51 billion, a PE ratio of 22.60, a P/E/G ratio of 2.76 and a beta of 0.57. The stock has a 50 day moving average price of $81.43 and a two-hundred day moving average price of $77.60. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. NextEra Energy, Inc. has a 1 year low of $53.95 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The firm had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same quarter last year, the business earned $0.94 earnings per share. NextEra Energy's revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.67%. NextEra Energy's payout ratio is currently 60.95%.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 4,007 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 15,792 shares of the company's stock, valued at $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NEE. Royal Bank of Canada lowered shares of NextEra Energy from a "moderate buy" rating to a "hold" rating in a report on Tuesday, October 22nd. Guggenheim upped their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. BMO Capital Markets upped their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an "outperform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of NextEra Energy from $91.00 to $94.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on shares of NextEra Energy in a report on Thursday, September 19th. They set a "hold" rating and a $87.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, NextEra Energy currently has an average rating of "Hold" and a consensus price target of $86.54.

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.