Morgan Stanley Has Lowered Expectations for NextEra Energy (NYSE:NEE) Stock Price

NextEra Energy (NYSE:NEE) had its price target lowered by investment analysts at Morgan Stanley from $97.00 to $94.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 41.79% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. BMO Capital Markets dropped their target price on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating for the company in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $90.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 11th. Guggenheim reiterated a “buy” rating and set a $89.00 price target on shares of NextEra Energy in a report on Thursday, March 20th. Jefferies Financial Group dropped their price target on NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Finally, Evercore ISI reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, NextEra Energy has an average rating of “Hold” and a consensus target price of $85.15.

NextEra Energy Stock Performance

Shares of NextEra Energy stock opened at $66.29 on Wednesday. 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 company has a market cap of $136.47 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. The company has a 50 day moving average of $69.71 and a 200-day moving average of $73.44. NextEra Energy has a 1-year low of $61.72 and a 1-year high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, equities research analysts forecast that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On NextEra Energy

Several institutional investors have recently added to or reduced their stakes in the business. Burkett Financial Services LLC lifted its position in shares of NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 332 shares during the period. Sugar Maple Asset Management LLC bought a new stake in NextEra Energy in the fourth quarter valued at $28,000. Bellwether Advisors LLC acquired a new position in shares of NextEra Energy during the fourth quarter valued at about $30,000. WealthTrak Capital Management LLC bought a new position in shares of NextEra Energy during the 4th quarter worth about $33,000. Finally, Luken Investment Analytics LLC acquired a new stake in shares of NextEra Energy in the 4th quarter valued at about $36,000. 78.72% of the stock is owned by institutional investors and hedge funds.

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.