JPMorgan Chase & Co. Cuts NextEra Energy (NYSE:NEE) Price Target to $90.00

NextEra Energy (NYSE:NEE) had its price target lowered by JPMorgan Chase & Co. from $99.00 to $90.00 in a research note issued to investors on Monday morning.

NEE has been the topic of several other research reports. Jefferies Financial Group dropped their price target on shares of NextEra Energy from $81.00 to $77.00 in a research note on Monday. Guggenheim increased their target price on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Barclays increased their price objective on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, BMO Capital Markets boosted their target price on NextEra Energy from $82.00 to $84.00 in a report on Monday. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.85.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $70.95 on Monday. The firm has a market cap of $145.90 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 2.29 and a beta of 0.58. NextEra Energy has a 1 year low of $53.95 and a 1 year high of $86.10. 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 business has a fifty day simple moving average of $72.83 and a 200 day simple moving average of $77.14.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. As a group, sell-side analysts predict that NextEra Energy will post 3.41 earnings per share for the current fiscal year.

Insider Buying and Selling at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of the stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

Several large investors have recently added to or reduced their stakes in NEE. Burkett Financial Services LLC increased its position 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 valued at $26,000 after purchasing an additional 332 shares during the period. Reston Wealth Management LLC acquired a new stake in NextEra Energy during the third quarter worth $27,000. Sugar Maple Asset Management LLC bought a new stake in NextEra Energy in the 4th quarter valued at $28,000. Quarry LP acquired a new position in shares of NextEra Energy in the 3rd quarter valued at $33,000. Finally, Luken Investment Analytics LLC bought a new position in shares of NextEra Energy during the 4th quarter worth about $36,000. Institutional investors and hedge funds 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.