NextEra Energy (NYSE:NEE) Price Target Cut to $94.00 by Analysts at Morgan Stanley

NextEra Energy (NYSE:NEE) had its price objective cut by Morgan Stanley from $95.00 to $94.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on NEE. Scotiabank upped their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets upped 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. Guggenheim upped their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays upped their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, NextEra Energy presently has an average rating of “Hold” and a consensus target price of $86.85.

NextEra Energy Stock Performance

Shares of NYSE NEE opened at $76.64 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The stock has a 50 day simple moving average of $80.74 and a 200-day simple moving average of $77.76. The company has a market cap of $157.60 billion, a PE ratio of 22.67, a P/E/G ratio of 2.75 and a beta of 0.57. NextEra Energy has a 12-month low of $53.95 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The firm had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that NextEra Energy will post 3.41 EPS for the current year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 2.69%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio is 60.95%.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Ceeto Capital Group LLC raised its stake in NextEra Energy by 57.1% during the 1st quarter. Ceeto Capital Group LLC now owns 11,000 shares of the utilities provider’s stock worth $703,000 after acquiring an additional 4,000 shares during the period. Talisman Wealth Advisors LLC boosted its stake in NextEra Energy by 1.3% during the first quarter. Talisman Wealth Advisors LLC now owns 13,940 shares of the utilities provider’s stock worth $891,000 after buying an additional 183 shares during the period. Beaird Harris Wealth Management LLC lifted its position in shares of NextEra Energy by 97.5% during the first quarter. Beaird Harris Wealth Management LLC now owns 2,544 shares of the utilities provider’s stock worth $163,000 after purchasing an additional 1,256 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of NextEra Energy by 2.2% during the first quarter. Mount Yale Investment Advisors LLC now owns 141,067 shares of the utilities provider’s stock worth $9,016,000 after purchasing an additional 3,082 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its position in shares of NextEra Energy by 12.0% during the first quarter. Zurich Insurance Group Ltd FI now owns 790,110 shares of the utilities provider’s stock worth $50,496,000 after purchasing an additional 84,919 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Company Profile

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.