NextEra Energy Inc. (NEE) Downgraded by Zacks Investment Research to Hold
According to Zacks, “NextEra Energy's investment in renewable generation should boost its performance over the long haul. NextEra Energy also invests frequently in its natural gas operations. The company’s Mountain Valley Pipeline joint venture with EQT Corporation is currently in the approval process with the Federal Energy Regulatory Commission (FERC) and commercial operations are expected to begin by the end of 2018. Favorable economic conditions in its service territories will drive demand for utility services. Strategic acquisition and asset divestment bode well for NextEra Energy. On the flip side, NextEra Energy's nature of business is subject to complex and comprehensive federal, state and other regulations. Also, concerns related to commodity price fluctuations might deter its growth to some extent. Delays in completion of projects and operational risks are other headwinds.”
Several other equities analysts have also recently issued reports on NEE. BMO Capital Markets restated a buy rating and issued a $135.00 price target on shares of NextEra Energy in a research report on Thursday, July 28th. Deutsche Bank AG reduced their price objective on shares of NextEra Energy from $134.00 to $133.00 and set a buy rating on the stock in a research note on Thursday, July 28th. Morgan Stanley reaffirmed a buy rating on shares of NextEra Energy in a research note on Monday, August 1st. Mizuho reaffirmed a buy rating and issued a $138.00 price objective on shares of NextEra Energy in a research note on Tuesday, August 30th. Finally, Bank of America Corp. reaffirmed a buy rating and issued a $149.00 price objective on shares of NextEra Energy in a research note on Tuesday, September 27th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. NextEra Energy has an average rating of Buy and a consensus target price of $129.01.
Shares of NextEra Energy (NYSE:NEE) traded down 0.36% during midday trading on Wednesday, hitting $113.42. 2,374,729 shares of the company were exchanged. The firm has a market capitalization of $53.00 billion, a price-to-earnings ratio of 21.44 and a beta of 0.26. NextEra Energy has a one year low of $96.19 and a one year high of $131.98. The firm’s 50 day moving average price is $121.03 and its 200 day moving average price is $123.63.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Monday, October 31st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.07. NextEra Energy had a net margin of 14.74% and a return on equity of 11.90%. The firm earned $4.81 billion during the quarter, compared to analysts’ expectations of $4.87 billion. During the same period in the prior year, the company posted $1.60 EPS. Analysts forecast that NextEra Energy will post $6.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, November 25th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $3.48 dividend on an annualized basis and a yield of 3.07%. NextEra Energy’s dividend payout ratio is presently 66.29%.
In other NextEra Energy news, EVP Charles E. Sieving sold 24,927 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $123.55, for a total transaction of $3,079,730.85. Following the completion of the transaction, the executive vice president now owns 47,189 shares in the company, valued at $5,830,200.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy B. Lane bought 1,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were acquired at an average price of $122.90 per share, with a total value of $122,900.00. The disclosure for this purchase can be found here. Company insiders own 0.66% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Global X Management Co. LLC raised its position in NextEra Energy by 242.3% in the second quarter. Global X Management Co. LLC now owns 818 shares of the company’s stock worth $107,000 after buying an additional 579 shares during the period. Riggs Asset Managment Co. Inc. raised its position in NextEra Energy by 378.8% in the second quarter. Riggs Asset Managment Co. Inc. now owns 948 shares of the company’s stock worth $124,000 after buying an additional 750 shares during the period. Flow Traders U.S. LLC purchased a new position in NextEra Energy during the third quarter worth approximately $129,000. James Investment Research Inc. raised its position in NextEra Energy by 47.2% in the third quarter. James Investment Research Inc. now owns 1,073 shares of the company’s stock worth $131,000 after buying an additional 344 shares during the period. Finally, Blue Chip Partners Inc. purchased a new position in NextEra Energy during the second quarter worth approximately $140,000. Hedge funds and other institutional investors own 72.99% of the company’s stock.
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About NextEra Energy NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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