NextEra Energy (NYSE:NEE) Price Target Lowered to $97.00 at Morgan Stanley

NextEra Energy (NYSE:NEE) had its target price reduced by Morgan Stanley from $98.00 to $97.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 16.29% from the stock’s previous close.

NEE has been the topic of several other reports. TD Cowen began coverage on shares of NextEra Energy in a research note on Thursday, October 16th. They set a “buy” rating and a $98.00 price target on the stock. Melius started coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They issued a “buy” rating and a $77.00 price target for the company. Barclays set a $88.00 price objective on NextEra Energy and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reissued a “hold” rating and issued a $85.00 target price (up previously from $77.00) on shares of NextEra Energy in a research note on Tuesday, October 14th. Finally, BTIG Research restated a “buy” rating on shares of NextEra Energy in a research report on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.63.

NextEra Energy Stock Performance

NextEra Energy stock opened at $83.41 on Thursday. NextEra Energy has a fifty-two week low of $61.72 and a fifty-two week high of $87.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. The stock has a market cap of $173.71 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69. The firm’s fifty day moving average price is $80.87 and its 200-day moving average price is $75.21.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 145,140 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the completion of the sale, the chief executive officer directly owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. This represents a 47.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares of the company’s stock, valued at $13,398,480. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 168,168 shares of company stock valued at $13,917,670. Company insiders own 0.20% of the company’s stock.

Institutional Trading of NextEra Energy

Several hedge funds have recently bought and sold shares of NEE. Norges Bank bought a new position in shares of NextEra Energy during the 2nd quarter valued at approximately $2,375,545,000. GQG Partners LLC lifted its position in shares of NextEra Energy by 58.4% in the first quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock valued at $1,221,896,000 after acquiring an additional 6,352,798 shares in the last quarter. Vanguard Group Inc. raised its stake in NextEra Energy by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 212,877,021 shares of the utilities provider’s stock valued at $14,777,923,000 after purchasing an additional 5,554,603 shares during the period. Assenagon Asset Management S.A. lifted its holdings in NextEra Energy by 1,765.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,968,305 shares of the utilities provider’s stock worth $299,567,000 after purchasing an additional 3,755,563 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in NextEra Energy by 20.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock valued at $1,165,748,000 after buying an additional 2,815,629 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

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.