Traders Buy Shares of NextEra Energy (NEE) on Weakness Following Analyst Downgrade
Investors purchased shares of NextEra Energy Inc (NYSE:NEE) on weakness during trading hours on Monday after Morgan Stanley lowered their price target on the stock from $186.00 to $184.00. $134.12 million flowed into the stock on the tick-up and $52.76 million flowed out of the stock on the tick-down, for a money net flow of $81.36 million into the stock. Of all equities tracked, NextEra Energy had the 10th highest net in-flow for the day. NextEra Energy traded down ($1.95) for the day and closed at $168.81
A number of other research firms also recently commented on NEE. Wells Fargo & Co increased their target price on NextEra Energy from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Mizuho began coverage on NextEra Energy in a research report on Monday, August 13th. They set a “buy” rating and a $184.00 target price for the company. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $191.00 target price for the company in a research report on Wednesday, August 8th. KeyCorp increased their target price on NextEra Energy from $168.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 19th. Finally, Howard Weil began coverage on NextEra Energy in a research report on Tuesday, July 24th. They set a “sector perform” rating for the company. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $169.86.
In related news, Treasurer Paul I. Cutler sold 7,639 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $173.30, for a total transaction of $1,323,838.70. Following the sale, the treasurer now owns 98,914 shares in the company, valued at approximately $17,141,796.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph T. Kelliher sold 8,035 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $173.30, for a total value of $1,392,465.50. Following the sale, the executive vice president now owns 36,637 shares in the company, valued at approximately $6,349,192.10. The disclosure for this sale can be found here. Insiders have sold a total of 61,408 shares of company stock valued at $10,546,494 over the last quarter. Corporate insiders own 0.55% of the company’s stock.
The company has a debt-to-equity ratio of 0.78, a current ratio of 0.58 and a quick ratio of 0.46. The company has a market capitalization of $80.53 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 2.63 and a beta of 0.18.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 25th. The utilities provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. NextEra Energy had a return on equity of 10.49% and a net margin of 49.10%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. analysts expect that NextEra Energy Inc will post 7.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Thursday, August 30th were paid a $1.11 dividend. The ex-dividend date of this dividend was Wednesday, August 29th. This represents a $4.44 dividend on an annualized basis and a yield of 2.63%. NextEra Energy’s payout ratio is 66.27%.
NextEra Energy Company Profile (NYSE:NEE)
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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