NextEra Energy (NYSE:NEE) Shares Gap Down Following Analyst Downgrade

NextEra Energy, Inc. (NYSE:NEE) gapped down before the market opened on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $99.00 to $90.00. The stock had previously closed at $73.83, but opened at $72.33. NextEra Energy shares last traded at $71.14, with a volume of 2,160,716 shares changing hands.

NEE has been the topic of a number of other research reports. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday. Morgan Stanley lifted their target price on NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI reduced their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research report on Monday. Finally, Guggenheim increased their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $85.85.

Insider Buying and Selling at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’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 transaction, the executive vice president now directly owns 15,792 shares in the company, valued at $1,193,401.44. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On NextEra Energy

Institutional investors have recently modified their holdings of the business. Regal Investment Advisors LLC raised its position in NextEra Energy by 11.0% during the second quarter. Regal Investment Advisors LLC now owns 3,503 shares of the utilities provider’s stock worth $248,000 after acquiring an additional 346 shares during the period. Granite Bay Wealth Management LLC purchased a new position in NextEra Energy in the 2nd quarter worth approximately $316,000. 3Chopt Investment Partners LLC purchased a new position in NextEra Energy during the second quarter worth approximately $394,000. Cetera Investment Advisers boosted its position in shares of NextEra Energy by 7.4% during the 2nd quarter. Cetera Investment Advisers now owns 575,209 shares of the utilities provider’s stock valued at $40,731,000 after acquiring an additional 39,522 shares during the last quarter. Finally, Farmers National Bank grew its stake in shares of NextEra Energy by 2.0% in the 2nd quarter. Farmers National Bank now owns 63,742 shares of the utilities provider’s stock valued at $4,514,000 after buying an additional 1,251 shares during the period. 78.72% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Stock Performance

The firm has a 50 day simple moving average of $72.83 and a 200-day simple moving average of $77.14. The company has a market cap of $145.90 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.29 and a beta of 0.58. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33.

NextEra Energy (NYSE:NEE) last posted its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. As a group, analysts predict that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

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.