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

NextEra Energy (NYSE:NEE) had its price target cut by Morgan Stanley from $95.00 to $94.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 11th. Guggenheim reiterated a “buy” rating and issued a $89.00 price objective on shares of NextEra Energy in a research report on Thursday, March 20th. BMO Capital Markets decreased their price objective on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Erste Group Bank lowered shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company cut their target price on shares of NextEra Energy from $102.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $84.50.

NextEra Energy Price Performance

Shares of NYSE NEE opened at $71.54 on Wednesday. The firm has a market capitalization of $147.28 billion, a P/E ratio of 26.79, a PEG ratio of 2.53 and a beta of 0.68. NextEra Energy has a one year low of $61.72 and a one year high of $86.10. The company’s fifty day moving average is $69.35 and its two-hundred day moving average is $70.39. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The company had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue was up 9.0% on a year-over-year basis. Analysts forecast that NextEra Energy will post 3.68 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Monday, June 2nd. NextEra Energy’s dividend payout ratio is currently 85.02%.

Insider Activity

In other news, EVP Charles E. Sieving sold 23,684 shares of the company’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the transaction, the executive vice president now owns 196,817 shares of the company’s stock, valued at $13,777,190. This represents a 10.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NEE. LaFleur & Godfrey LLC increased its position in NextEra Energy by 9.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 4,500 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 400 shares in the last quarter. Brighton Jones LLC increased its position in NextEra Energy by 7.0% during the 4th quarter. Brighton Jones LLC now owns 28,282 shares of the utilities provider’s stock worth $2,028,000 after purchasing an additional 1,840 shares in the last quarter. Revolve Wealth Partners LLC increased its position in NextEra Energy by 6.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,854 shares of the utilities provider’s stock worth $348,000 after purchasing an additional 298 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in NextEra Energy during the 4th quarter worth approximately $203,000. Finally, New York State Common Retirement Fund increased its position in NextEra Energy by 0.4% during the 4th quarter. New York State Common Retirement Fund now owns 2,759,917 shares of the utilities provider’s stock worth $197,858,000 after purchasing an additional 9,800 shares in the last quarter. Institutional investors and hedge funds 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.