NextEra Energy (NYSE:NEE) Stock Price Down 1.8%

Shares of NextEra Energy, Inc. (NYSE:NEE) dropped 1.8% during mid-day trading on Thursday . The company traded as low as $74.62 and last traded at $74.98. Approximately 1,817,984 shares changed hands during trading, a decline of 84% from the average daily volume of 11,608,786 shares. The stock had previously closed at $76.32.

Wall Street Analysts Forecast Growth

NEE has been the subject of a number of research reports. Barclays initiated coverage on NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price target for the company. BMO Capital Markets boosted their price target on NextEra Energy from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a research note on Tuesday, January 30th. Morgan Stanley upped their price objective on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Finally, Bank of America upped their price objective on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.64.

NextEra Energy Trading Up 1.7 %

The business has a 50 day simple moving average of $67.50 and a 200-day simple moving average of $61.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. The stock has a market capitalization of $157.40 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.76 and a beta of 0.50.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. On average, analysts predict that NextEra Energy, Inc. will post 3.4 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.515 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.69%. NextEra Energy’s payout ratio is currently 56.13%.

Hedge Funds Weigh In On NextEra Energy

Several hedge funds have recently bought and sold shares of the business. Clear Investment Research LLC grew its position in shares of NextEra Energy by 387.2% in the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 364 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $29,000. American Capital Advisory LLC lifted its stake in shares of NextEra Energy by 74.5% in the first quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock valued at $31,000 after buying an additional 205 shares during the period. Stuart Chaussee & Associates Inc. lifted its stake in shares of NextEra Energy by 315.4% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after buying an additional 410 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at about $34,000. 78.72% of the stock is owned by institutional investors and hedge funds.

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.