NextEra Energy (NYSE:NEE) Price Target Cut to $98.00

NextEra Energy (NYSE:NEEGet Rating) had its price objective trimmed by Morgan Stanley from $99.00 to $98.00 in a report published on Thursday morning, Stock Target Advisor reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the company. Seaport Res Ptn cut NextEra Energy from a buy rating to a neutral rating in a report on Tuesday, July 26th. Credit Suisse Group upped their price objective on NextEra Energy from $79.00 to $98.00 in a report on Wednesday, September 14th. TheStreet upgraded NextEra Energy from a c+ rating to a b rating in a report on Friday, July 22nd. Barclays decreased their price objective on NextEra Energy from $90.00 to $86.00 and set an equal weight rating on the stock in a report on Monday, July 18th. Finally, Wells Fargo & Company upped their price objective on NextEra Energy from $107.00 to $115.00 and gave the company an overweight rating in a report on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $97.30.

NextEra Energy Price Performance

NEE stock opened at $83.54 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.53 and a quick ratio of 0.47. The business has a 50 day simple moving average of $86.16 and a 200-day simple moving average of $80.75. The firm has a market capitalization of $164.14 billion, a PE ratio of 63.77, a price-to-earnings-growth ratio of 3.07 and a beta of 0.46. NextEra Energy has a 1 year low of $67.22 and a 1 year high of $93.73.

NextEra Energy (NYSE:NEEGet Rating) last posted its quarterly earnings results on Friday, July 22nd. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.26 billion. NextEra Energy had a return on equity of 11.97% and a net margin of 14.75%. The business’s revenue was up 32.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. Equities research analysts anticipate that NextEra Energy will post 2.89 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, August 29th. NextEra Energy’s payout ratio is currently 129.77%.

Insider Activity

In other news, EVP Ronald R. Reagan sold 9,307 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $88.79, for a total value of $826,368.53. Following the sale, the executive vice president now directly owns 18,176 shares in the company, valued at $1,613,847.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Ronald R. Reagan sold 9,307 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $88.79, for a total value of $826,368.53. Following the sale, the executive vice president now directly owns 18,176 shares in the company, valued at $1,613,847.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John W. Ketchum acquired 12,909 shares of NextEra Energy stock in a transaction dated Friday, July 1st. The stock was bought at an average price of $78.33 per share, for a total transaction of $1,011,161.97. Following the completion of the purchase, the chief executive officer now owns 132,894 shares of the company’s stock, valued at approximately $10,409,587.02. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

Several large investors have recently bought and sold shares of the business. Coston McIsaac & Partners purchased a new position in NextEra Energy in the second quarter valued at $3,545,000. Inscription Capital LLC increased its holdings in NextEra Energy by 201.7% in the second quarter. Inscription Capital LLC now owns 36,169 shares of the utilities provider’s stock valued at $2,802,000 after buying an additional 24,180 shares during the last quarter. Federated Hermes Inc. increased its holdings in NextEra Energy by 53.1% in the second quarter. Federated Hermes Inc. now owns 1,551,019 shares of the utilities provider’s stock valued at $120,142,000 after buying an additional 537,651 shares during the last quarter. Second Half Financial Partners LLC purchased a new position in NextEra Energy in the second quarter valued at $457,000. Finally, Tandem Investment Advisors Inc. increased its holdings in NextEra Energy by 6.8% in the second quarter. Tandem Investment Advisors Inc. now owns 557,177 shares of the utilities provider’s stock valued at $43,159,000 after buying an additional 35,537 shares during the last quarter. Hedge funds and other institutional investors own 76.89% of the company’s stock.

NextEra Energy Company Profile

(Get Rating)

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, coal, and natural gas facilities. 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.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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