NextEra Energy (NYSE:NEE) Stock Price Down 0.7% – Here’s Why

NextEra Energy, Inc. (NYSE:NEE)’s stock price fell 0.7% during trading on Tuesday . The stock traded as low as $83.14 and last traded at $83.45. 1,371,320 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 10,724,199 shares. The stock had previously closed at $84.03.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Bank of America boosted their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets lifted their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company lifted their target price 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. Jefferies Financial Group began coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They set a “hold” rating and a $87.00 target price for the company. Finally, Morgan Stanley upped their price target on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.46.

NextEra Energy Price Performance

The company’s 50 day moving average is $81.94 and its 200-day moving average is $75.76. The firm has a market capitalization of $172.58 billion, a price-to-earnings ratio of 22.74, a P/E/G ratio of 2.92 and a beta of 0.56. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the company posted $0.88 EPS. Equities research analysts anticipate that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is presently 56.13%.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at $7,697. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NextEra Energy

Institutional investors have recently modified their holdings of the business. Intech Investment Management LLC boosted its stake in shares of NextEra Energy by 35.7% in the first quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock valued at $6,411,000 after buying an additional 26,382 shares during the period. Ancora Advisors LLC grew its holdings in NextEra Energy by 10.6% during the 1st quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after acquiring an additional 7,677 shares during the last quarter. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of NextEra Energy by 2.2% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock worth $102,495,000 after purchasing an additional 26,270 shares during the period. Magnolia Capital Advisors LLC raised its position in NextEra Energy by 1,224.3% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock worth $5,130,000 after purchasing an additional 66,982 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of NextEra Energy by 57.0% in the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after buying an additional 2,163,437 shares during the period. 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.