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

NextEra Energy (NYSE:NEE) had its target price decreased by Morgan Stanley from $97.00 to $94.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 39.24% from the company’s current price.

Several other analysts have also recently weighed in on NEE. Jefferies Financial Group lowered their price target on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. BMO Capital Markets dropped their price objective on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday. Evercore ISI lowered their price target on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research report on Monday, January 27th. Guggenheim reiterated a “buy” rating and issued a $89.00 price objective on shares of NextEra Energy in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. upped their target price on NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, NextEra Energy currently has an average rating of “Hold” and an average target price of $85.15.

NextEra Energy Stock Performance

Shares of NEE stock traded down $0.15 during trading on Wednesday, reaching $67.51. 2,677,649 shares of the company’s stock traded hands, compared to its average volume of 10,789,241. NextEra Energy has a 1 year low of $61.31 and a 1 year high of $86.10. The company has a market capitalization of $138.97 billion, a P/E ratio of 20.03, a PEG ratio of 2.45 and a beta of 0.58. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. The firm’s 50-day moving average is $69.83 and its 200 day moving average is $73.62.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Equities research analysts expect that NextEra Energy will post 3.68 EPS for the current year.

Insiders Place Their Bets

In related news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total value of $162,258.47. Following the sale, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Institutional Trading of NextEra Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of NextEra Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 205,297,225 shares of the utilities provider’s stock valued at $14,717,758,000 after purchasing an additional 2,090,538 shares in the last quarter. Norges Bank purchased a new stake in shares of NextEra Energy in the fourth quarter worth $3,484,197,000. Geode Capital Management LLC raised its position in shares of NextEra Energy by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 43,778,016 shares of the utilities provider’s stock worth $3,129,132,000 after purchasing an additional 1,359,268 shares during the last quarter. Northern Trust Corp boosted its stake in NextEra Energy by 9.6% in the 4th quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider’s stock worth $1,655,353,000 after purchasing an additional 2,030,331 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in NextEra Energy by 4.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider’s stock valued at $1,041,210,000 after purchasing an additional 588,038 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

About NextEra Energy

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.