Morgan Stanley Cuts NextEra Energy (NYSE:NEE) Price Target to $94.00

NextEra Energy (NYSE:NEE) had its price target dropped by analysts at Morgan Stanley from $95.00 to $94.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 23.28% from the company’s previous close.

Several other equities analysts have also issued reports on NEE. Bank of America upped their target price on NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada downgraded NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Guggenheim lifted their target price on NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets raised their price objective on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Hold” and an average target price of $86.85.

NextEra Energy Stock Down 1.4 %

Shares of NextEra Energy stock traded down $1.11 during trading hours on Friday, reaching $76.25. The company’s stock had a trading volume of 2,743,688 shares, compared to its average volume of 10,868,621. The company has a market capitalization of $156.80 billion, a P/E ratio of 22.60, a P/E/G ratio of 2.78 and a beta of 0.57. The stock’s fifty day simple moving average is $81.08 and its two-hundred day simple moving average is $77.64. NextEra Energy has a one year low of $53.95 and a one year high of $86.10. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same period last year, the business earned $0.94 EPS. The business’s revenue was up 5.5% on a year-over-year basis. On average, research analysts forecast that NextEra Energy will post 3.41 earnings per share for the current year.

Insider Buying and Selling at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On NextEra Energy

Several institutional investors and hedge funds have recently bought and sold shares of NEE. Geode Capital Management LLC lifted its holdings in NextEra Energy by 2.0% in the third quarter. Geode Capital Management LLC now owns 42,418,748 shares of the utilities provider’s stock worth $3,571,650,000 after buying an additional 820,704 shares during the period. Legal & General Group Plc lifted its stake in shares of NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock valued at $1,508,155,000 after purchasing an additional 143,748 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of NextEra Energy by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,284,785 shares of the utilities provider’s stock valued at $1,122,963,000 after purchasing an additional 86,758 shares during the period. Massachusetts Financial Services Co. MA grew its stake in NextEra Energy by 5.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 8,630,775 shares of the utilities provider’s stock worth $729,559,000 after purchasing an additional 452,590 shares during the period. Finally, Raymond James & Associates raised its holdings in NextEra Energy by 14.3% in the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock worth $575,573,000 after purchasing an additional 851,873 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

About NextEra Energy

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,natural gas, and other clean energy. 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.