Sandy Spring Bank Increases Stake in NextEra Energy, Inc.

Sandy Spring Bank has announced an increase in its investment in NextEra Energy, Inc. (NYSE:NEE) by 3.3% during the fourth quarter, based on the latest report submitted to the Securities & Exchange Commission. Following this investment, the institutional investor now holds a total of 193,331 shares of the utilities company.

During the quarter, Sandy Spring Bank acquired an additional 6,245 shares, bringing the total value of their holdings in NextEra Energy to approximately $13,860,000 by the end of the reporting period.

In recent events, various hedge funds have adjusted their investments in NextEra Energy. For instance, Burkett Financial Services LLC significantly increased its position in the company by an astonishing 1,229.6% in the last quarter, now owning 359 shares valued at about $26,000 after buying an additional 332 shares. Sugar Maple Asset Management LLC also entered a new position valued at around $28,000 in the fourth quarter. Similarly, Quarry LP made an investment worth approximately $33,000, while Luken Investment Analytics LLC invested about $36,000 during the same period. Lastly, Midwest Capital Advisors LLC obtained a new stake valued at approximately $44,000. Collectively, institutional investors hold 78.72% of the stock.

Recent Insider Activities

In a related development, James Michael May, Chief Accounting Officer of NextEra Energy, sold 2,383 of his shares on February 18th at an average price of $68.09, totaling approximately $162,258. Following this sale, he retains 27,427 shares, currently valued at $1,867,504.43, reflecting a 7.99% decrease in his overall ownership. This transaction was reported to the SEC as required.

Analyst Insights and Price Targets

Several brokerage firms have recently made comments regarding NextEra Energy's stock. For example, JPMorgan Chase & Co. raised their target price on the stock from $90.00 to $91.00 and assigned an "overweight" rating in a note published on March 11th. Conversely, Jefferies Financial Group reduced their price target from $81.00 to $77.00 in a report released on January 27th. BMO Capital Markets, however, increased their target from $82.00 to $84.00 during the same week. In addition, Scotiabank modified their target from $92.00 to $96.00, maintaining a "sector outperform" rating. Evercore ISI, on the other hand, lowered their target from $84.00 to $79.00, designating an "in-line" rating for the company. Currently, eight research analysts have assigned a hold rating to the stock, while seven analysts issued buy ratings, leading to a consensus target price of $85.92 according to MarketBeat data.

NextEra Energy's Stock Performance

As of Thursday, shares of NextEra Energy (NEE) opened at $70.47. The company has a market capitalization of $144.96 billion, with a price-to-earnings ratio of 20.91 and a PEG ratio of 2.45. The stock has a 50-day moving average of $70.54 and a 200-day average of $75.66. Currently, the company holds a debt-to-equity ratio of 1.20, along with a current ratio of 0.47 and a quick ratio of 0.38. Over the past year, NextEra Energy's stock has reached a low of $61.29 and a high of $86.10.

NextEra Energy reported its quarterly earnings results on January 24th, revealing earnings of $0.53 per share, matching analysts’ expectations. The company showcased a return on equity of 11.85% and a net margin of 28.06%. Analysts project that NextEra Energy will achieve earnings of $3.68 per share for the current fiscal year.

Dividend Announcements

Moreover, NextEra Energy has declared a quarterly dividend, which was distributed on March 17th. Shareholders on record as of February 28th received a dividend of $0.5665 per share, with an annualized dividend of $2.27, yielding a 3.22%, marking an increase from the previous dividend of $0.52. The company's dividend payout ratio currently stands at 67.06%.

About NextEra Energy

NextEra Energy, Inc. operates through its subsidiaries to generate, transmit, and sell electric power to both retail and wholesale customers throughout North America. The company provides electricity from a combination of renewable sources, including wind and solar, as well as nuclear and natural gas. Additionally, NextEra Energy is involved in the development and operation of long-term contracted assets for clean energy solutions, including renewable generation facilities and battery storage projects.

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