Morgan Stanley Cuts NextEra Energy (NYSE:NEE) Price Target to $94.00

NextEra Energy (NYSE:NEE) had its target price lowered by Morgan Stanley from $95.00 to $94.00 in a research report sent to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other brokerages have also issued reports on NEE. Erste Group Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 11th. Guggenheim reissued a “buy” rating and set a $89.00 target price on shares of NextEra Energy in a research note on Thursday, March 20th. BMO Capital Markets dropped their price target 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. Finally, Wells Fargo & Company reduced their price target 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 research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.50.

NextEra Energy Stock Performance

Shares of NEE opened at $71.61 on Wednesday. The firm has a fifty day moving average of $69.57 and a 200-day moving average of $70.32. The company has a market cap of $147.41 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 2.52 and a beta of 0.68. 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 has a 1 year low of $61.72 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. The firm had revenue of $6.25 billion during the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. NextEra Energy’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, equities analysts anticipate that NextEra Energy will post 3.68 earnings per share for the current 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 given a dividend of $0.5665 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.16%. NextEra Energy’s dividend payout ratio (DPR) is presently 85.02%.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 23,684 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the sale, the executive vice president now owns 196,817 shares in the company, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. LaFleur & Godfrey LLC grew its holdings in shares of NextEra Energy by 9.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 4,500 shares of the utilities provider’s stock valued at $323,000 after buying an additional 400 shares in the last quarter. Brighton Jones LLC boosted 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 acquiring an additional 1,840 shares during the period. Revolve Wealth Partners LLC grew its stake 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 valued at $348,000 after acquiring an additional 298 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in NextEra Energy during the 4th quarter valued at about $203,000. Finally, New York State Common Retirement Fund increased its holdings in shares of NextEra Energy by 0.4% in the 4th quarter. New York State Common Retirement Fund now owns 2,759,917 shares of the utilities provider’s stock valued at $197,858,000 after purchasing an additional 9,800 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

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.