South State Corp increased its position in NextEra Energy, Inc. (NYSE:NEE) by 21.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,529 shares of the utilities provider’s stock after buying an additional 2,057 shares during the period. South State Corp’s holdings in NextEra Energy were worth $1,479,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Pacific Center for Financial Services bought a new stake in NextEra Energy during the fourth quarter worth approximately $136,000. Pinnacle Bank bought a new stake in NextEra Energy during the first quarter worth approximately $161,000. Baystate Wealth Management LLC boosted its stake in NextEra Energy by 49.4% in the first quarter. Baystate Wealth Management LLC now owns 1,333 shares of the utilities provider’s stock worth $174,000 after buying an additional 441 shares during the period. Norway Savings Bank boosted its stake in NextEra Energy by 1.4% in the first quarter. Norway Savings Bank now owns 1,344 shares of the utilities provider’s stock worth $172,000 after buying an additional 18 shares during the period. Finally, Advantage Investment Management LLC bought a new stake in NextEra Energy during the fourth quarter worth approximately $175,000. Institutional investors own 76.97% of the company’s stock.
NextEra Energy, Inc. (NEE) traded down 0.54% during trading on Friday, hitting $146.75. 1,478,948 shares of the stock traded hands. NextEra Energy, Inc. has a 12 month low of $110.49 and a 12 month high of $147.33. The stock has a market cap of $68.86 billion, a P/E ratio of 16.81 and a beta of 0.32. The firm’s 50-day moving average is $142.09 and its 200-day moving average is $133.79.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company earned $1.67 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts forecast that NextEra Energy, Inc. will post $6.72 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be issued a dividend of $0.9825 per share. This represents a $3.93 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Wednesday, August 23rd. NextEra Energy’s dividend payout ratio is presently 45.02%.
Several brokerages have commented on NEE. UBS AG restated a “buy” rating and set a $143.00 price objective (up from $138.00) on shares of NextEra Energy in a research note on Tuesday, April 18th. Royal Bank Of Canada restated an “outperform” rating and set a $147.00 price objective (up from $144.00) on shares of NextEra Energy in a research note on Sunday, July 9th. Wells Fargo & Company restated an “outperform” rating and set a $158.00 price objective (up from $150.00) on shares of NextEra Energy in a research note on Monday, June 19th. BidaskClub cut shares of NextEra Energy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, BMO Capital Markets restated a “buy” rating and set a $156.00 price objective (up from $144.00) on shares of NextEra Energy in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $148.18.
In other NextEra Energy news, Director Eric E. Silagy sold 8,111 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $140.58, for a total value of $1,140,244.38. Following the completion of the transaction, the director now owns 26,884 shares in the company, valued at $3,779,352.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Robo sold 52,320 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $136.48, for a total value of $7,140,633.60. The disclosure for this sale can be found here. Insiders sold 90,431 shares of company stock valued at $12,692,378 in the last quarter. 0.53% of the stock is currently owned by company insiders.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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