NextEra Energy (NYSE:NEE) Trading Down 0.3% – Here’s Why

NextEra Energy, Inc. (NYSE:NEE) dropped 0.3% during mid-day trading on Wednesday . The stock traded as low as $79.66 and last traded at $80.26. Approximately 2,378,602 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 10,831,553 shares. The stock had previously closed at $80.50.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Wells Fargo & Company upped their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Morgan Stanley increased their target price on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Mizuho cut shares of NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price objective for the company. in a research note on Wednesday, June 12th. Finally, Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.07.

NextEra Energy Stock Up 0.1 %

The firm’s fifty day simple moving average is $80.98 and its 200 day simple moving average is $74.51. The company has a market cap of $165.55 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.08 and a beta of 0.56. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. Sell-side analysts predict that NextEra Energy, Inc. will post 3.4 earnings per share for the current year.

NextEra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 2.56%. The ex-dividend date was Friday, August 30th. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Insider Activity

In other news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the sale, the executive vice president now owns 100 shares in the company, valued at $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc increased its position in NextEra Energy by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after purchasing an additional 143,748 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of NextEra Energy by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after purchasing an additional 691,341 shares during the period. Nordea Investment Management AB boosted its holdings in NextEra Energy by 22.3% during the first quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after buying an additional 1,268,900 shares in the last quarter. Principal Financial Group Inc. grew its position in NextEra Energy by 7.2% during the second quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after buying an additional 409,708 shares during the period. Finally, Bahl & Gaynor Inc. increased its holdings in NextEra Energy by 6.9% in the second quarter. Bahl & Gaynor Inc. now owns 5,981,760 shares of the utilities provider’s stock valued at $423,568,000 after buying an additional 388,149 shares in the last quarter. 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.