Wolfe Research Cuts NextEra Energy (NYSE:NEE) Price Target to $87.00

NextEra Energy (NYSE:NEE) had its price objective decreased by Wolfe Research from $94.00 to $87.00 in a research report released on Thursday morning,MarketScreener reports. Wolfe Research currently has an outperform rating on the utilities provider’s stock.

NEE has been the subject of a number of other reports. Melius started coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target for the company. Citigroup reissued a “buy” rating and issued a $96.00 price objective (up previously from $84.00) on shares of NextEra Energy in a research note on Wednesday, October 29th. UBS Group restated a “buy” rating and set a $96.00 target price (up previously from $84.00) on shares of NextEra Energy in a research report on Wednesday, October 29th. Morgan Stanley reiterated an “overweight” rating and issued a $95.00 price target (down from $96.00) on shares of NextEra Energy in a report on Thursday, September 25th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target (up from $77.00) on shares of NextEra Energy in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $90.53.

NextEra Energy Stock Performance

NYSE NEE opened at $83.84 on Thursday. The business’s 50 day moving average price is $79.50 and its 200-day moving average price is $74.64. NextEra Energy has a fifty-two week low of $61.72 and a fifty-two week high of $87.53. The company has a market cap of $174.60 billion, a P/E ratio of 26.70, a P/E/G ratio of 2.76 and a beta of 0.69. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $8.13 billion. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.NextEra Energy’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. Sell-side analysts predict that NextEra Energy will post 3.68 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 21st will be issued a $0.5665 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.7%. NextEra Energy’s payout ratio is presently 71.97%.

Insider Buying and Selling

In other news, EVP Mark Lemasney sold 846 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the transaction, the executive vice president owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. This represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president owned 167,481 shares in the company, valued at approximately $13,398,480. This represents a 6.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,028 shares of company stock valued at $1,738,973 over the last quarter. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Activest Wealth Management increased its position in shares of NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. acquired a new stake in shares of NextEra Energy in the 2nd quarter worth $25,000. Goodman Advisory Group LLC purchased a new position in NextEra Energy during the 2nd quarter worth $25,000. Tripletail Wealth Management LLC acquired a new position in NextEra Energy during the 3rd quarter valued at about $25,000. Finally, 1 North Wealth Services LLC acquired a new position in NextEra Energy during the 1st quarter valued at about $26,000. 78.72% of the stock is currently owned by institutional investors.

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.