NextEra Energy (NYSE:NEE) Shares Gap Down on Analyst Downgrade

Shares of NextEra Energy, Inc. (NYSE:NEE) gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $99.00 to $90.00. The stock had previously closed at $73.83, but opened at $72.33. NextEra Energy shares last traded at $71.14, with a volume of 2,160,716 shares trading hands.

A number of other equities research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Evercore ISI dropped their target price on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday. BMO Capital Markets increased their target price on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday. Finally, Scotiabank boosted their price target on NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research report on Thursday, December 12th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and a consensus price target of $85.85.

Insider Buying and Selling

In related news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares in the company, valued at $1,193,401.44. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of NextEra Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Reston Wealth Management LLC acquired a new stake in shares of NextEra Energy in the 3rd quarter valued at approximately $27,000. Burkett Financial Services LLC increased its holdings in shares of NextEra Energy by 1,229.6% during the fourth quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after buying an additional 332 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of NextEra Energy during the 4th quarter valued at $28,000. Quarry LP acquired a new position in NextEra Energy in the 3rd quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in NextEra Energy during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

The business’s 50-day simple moving average is $73.02 and its two-hundred day simple moving average is $77.19. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The firm has a market cap of $145.85 billion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 2.29 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. As a group, research analysts expect that NextEra Energy, Inc. will post 3.41 EPS for the current fiscal year.

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.