Sandy Spring Bank Increases Stake in NextEra Energy

Sandy Spring Bank has increased its investment in NextEra Energy, Inc. (NYSE:NEE - Free Report) by 3.3% during the fourth quarter of the year, as revealed in its latest filing with the Securities and Exchange Commission (SEC). The bank now holds 193,331 shares of the utility service provider after acquiring an additional 6,245 shares within this period. At the conclusion of the most recent reporting cycle, Sandy Spring Bank's holdings in NextEra Energy were valued at approximately $13.86 million.

A few other hedge funds have also made recent changes regarding their positions in NextEra Energy. For instance, Burkett Financial Services LLC dramatically increased its stake in the company by 1,229.6% during the fourth quarter, owning 359 shares worth around $26,000 after adding 332 shares in the last quarter. Additionally, Sugar Maple Asset Management LLC established a new position in NextEra Energy valued at about $28,000 in the same quarter. Quarry LP and Luken Investment Analytics LLC also initiated new positions, valued at $33,000 and $36,000 respectively, in the third and fourth quarters. Lastly, Midwest Capital Advisors LLC bought into the company for approximately $44,000. As of now, institutional investors own about 78.72% of the stock.

Insider Trading Activity

In related news regarding insider transactions, the Chief Accounting Officer (CAO), James Michael May, sold 2,383 shares of NextEra Energy on February 18th. The shares were sold at an average price of $68.09, totaling $162,258.47. Following this transaction, the CAO retained ownership of 27,427 shares valued at around $1.87 million. This sale represented a 7.99% decrease in their ownership. Details of this transaction have been disclosed in a filing with the SEC, which is publicly accessible. Current insider ownership stands at 0.18%.

Analysts Provide Price Target Insights

Recently, several brokerage firms have commented on the equity of NextEra Energy. For example, JPMorgan Chase & Co. raised their price target from $90.00 to $91.00, awarding the stock an "overweight" rating in a note dated March 11th. Conversely, Jefferies Financial Group reduced their price objective from $81.00 to $77.00. On a brighter note, BMO Capital Markets increased their target price from $82.00 to $84.00. Scotiabank also uplifted their price target from $92.00 to $96.00 and issued a "sector outperform" rating. Finally, Evercore ISI lowered their price objective from $84.00 to $79.00, designating an "in-line" rating. Currently, eight analysts have rated the stock as a hold, while seven rated it as a buy. MarketBeat shows that NextEra Energy holds an average rating of "Hold" and a consensus price target of $85.92.

NextEra Energy Stock Performance

On Thursday, shares of NextEra Energy opened at $70.47. The company holds a market capitalization of $144.96 billion, alongside a price-to-earnings ratio of 20.91, a PEG ratio of 2.45, and a beta of 0.58. Current moving averages for the stock include a 50-day average of $70.54 and a 200-day average of $75.66. Financial metrics show a current ratio of 0.47, a quick ratio of 0.38, and a debt-to-equity ratio of 1.20. The stock's price has fluctuated between a one-year low of $61.29 and a one-year high of $86.10.

Recent Dividend Announcement

Additionally, NextEra Energy has recently declared a quarterly dividend, which was distributed on March 17th. Shareholders who were recorded as of February 28th received a dividend payment of $0.5665 per share, with an ex-dividend date of the same day. This dividend represents an annual payout of $2.27 and a yield of 3.22%, reflecting an increase from the previous dividend of $0.52. The company has a current dividend payout ratio of 67.06%.

About NextEra Energy

NextEra Energy, Inc., through its subsidiaries, is involved in generating, transmitting, distributing, and selling electricity to retail and wholesale customers across North America. The company produces power from various sources, including wind, solar, nuclear, and natural gas, among others. Furthermore, it is engaged in developing, constructing, and operating long-term contracted clean energy solutions such as renewable generation facilities, battery storage projects, and electric transmission infrastructures. It also operates in energy commodity trading and manages electric generation facilities in wholesale energy markets.

investment, stocks, utilities