<div id="readability-page-1">11:14 AM EDT, 05/19/2026 (MT Newswires) -- NextEra Energy's ( NEE/PW ) all-stock merger with Dominion Energy ( D ) is expected to create a $400 billion enterprise value utility and energy infrastructure company uniquely positioned to capitalize on the massive power demands of data centers, Morgan Stanley said in a report Tuesday.The deal offers &#34;modest&#34; near-term earnings &#34;accretion&#34; and supports projected long-term earnings per share growth of more than 9% through 2035, the firm said. NextEra shareholders will own roughly 74.5% of the combined company, the report noted.The investment bank said the main driver of the deal is sheer &#34;scale,&#34; which is becoming critical as data centers grow larger and supply chains tighten. The combined entity is expected to boast a pipeline of more than 130 gigawatts of &#34;large-load customer&#34; demand, according to the report.Morgan Stanley maintained an overweight rating on NextEra Energy ( NEE/PW ) and raised its price target to $115 from $107, noting that the deal is expected to close within 12 to 18 months, pending federal and state regulatory approvals.Price: 89.01, Change: -0.04, Percent Change: -0.04 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

Morgan Stanley reports that NextEra Energy's merger with Dominion Energy will create a $400 billion utility company, enhancing data center growth opportunities. The deal is expected to yield modest near-term earnings accretion and over 9% long-term EPS growth through 2035. NextEra shareholders will own 74.5% of the combined entity, which will have a pipeline of over 130 gigawatts of demand. Morgan Stanley maintains an overweight rating on NextEra and raises its price target to $115.

fidelity

Nextera Energy Partners LP

Nextera Energy

Dominion Energy

Select Sect Spdr Util

ISHRS S&P Glb Utilities

Morgan Stanley

NEXTERA ENERGY CAPITAL HLDGS INC 5.65%JNR SUBORD DEB 01/03/2079 SER N

NEXTERA ENERGY CAPITAL HLDGS INC 6.5% BDS 15/04/86 USD1000

NEXTERA ENERGY INC 6.926% CORPORATE UNITS 01/09/2025

NEXTERA ENERGY INC CORP UNIT 01/11/2029

NEXTERA ENERGY CAPITAL HLDGS INC 6.5% BDS 01/06/85 USD25

NEXTERA ENERGY INC CORP UNIT 01/06/2027

NEXTERA ENERGY INC CORP UNIT

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

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NextEra, Dominion Merger Expands Data Center Growth Opportunities, Morgan Stanley Says