NextEra Energy (NYSE:NEE) Shares Down 1.5%

NextEra Energy, Inc. (NYSE:NEE) was down 1.5% during trading on Friday . The company traded as low as $72.59 and last traded at $72.63. Approximately 2,041,443 shares changed hands during trading, a decline of 83% from the average daily volume of 11,817,779 shares. The stock had previously closed at $73.72.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NEE. Scotiabank raised their price objective on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research note on Monday, April 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $95.00 price objective on shares of NextEra Energy in a research note on Wednesday, June 12th. Morgan Stanley raised their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Royal Bank of Canada boosted their target price on shares of NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Barclays decreased their price target on shares of NextEra Energy from $74.00 to $73.00 and set an “equal weight” rating for the company in a report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.57.

NextEra Energy Price Performance

The company has a market cap of $144.23 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.51 and a beta of 0.56. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $72.93 and a two-hundred day moving average price of $64.33.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. NextEra Energy’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. As a group, equities research analysts anticipate that NextEra Energy, Inc. will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.515 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a yield of 2.93%. NextEra Energy’s payout ratio is currently 56.13%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEE. Connor Clark & Lunn Investment Management Ltd. boosted its position in NextEra Energy by 133.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 18,728 shares of the utilities provider’s stock valued at $1,073,000 after buying an additional 10,720 shares in the last quarter. Mutual Advisors LLC lifted its position in NextEra Energy by 6.2% during the 3rd quarter. Mutual Advisors LLC now owns 20,279 shares of the utilities provider’s stock worth $1,162,000 after buying an additional 1,175 shares in the last quarter. Bank of Nova Scotia grew its holdings in NextEra Energy by 6.4% during the 3rd quarter. Bank of Nova Scotia now owns 478,165 shares of the utilities provider’s stock worth $27,394,000 after acquiring an additional 28,675 shares during the last quarter. Morningstar Investment Services LLC increased its position in NextEra Energy by 134.2% in the 3rd quarter. Morningstar Investment Services LLC now owns 6,422 shares of the utilities provider’s stock valued at $367,000 after acquiring an additional 3,680 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of NextEra Energy in the third quarter worth about $458,000. 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.