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

NextEra Energy (NYSE:NEE) had its target price dropped by investment analysts at Morgan Stanley from $98.00 to $97.00 in a research note issued to investors on Thursday,MarketScreener reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 16.29% from the company’s previous close.

NEE has been the topic of several other reports. Evercore ISI reaffirmed an “outperform” rating and set a $93.00 target price on shares of NextEra Energy in a report on Tuesday, October 28th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 target price (up from $77.00) on shares of NextEra Energy in a report on Tuesday, October 14th. BTIG Research reaffirmed a “buy” rating on shares of NextEra Energy in a research note on Monday, October 27th. UBS Group reissued a “buy” rating and issued a $96.00 target price (up from $84.00) on shares of NextEra Energy in a report on Wednesday, October 29th. Finally, Melius started coverage on shares of NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.63.

NextEra Energy Stock Performance

NEE traded down $0.89 on Thursday, reaching $83.41. The company had a trading volume of 13,928,088 shares, compared to its average volume of 11,361,745. The company’s fifty day moving average is $80.87 and its 200 day moving average is $75.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. The stock has a market cap of $173.71 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.76 and a beta of 0.69. NextEra Energy has a fifty-two week low of $61.72 and a fifty-two week high of $87.53.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts predict that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 145,140 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $83.91, for a total value of $12,178,697.40. Following the completion of the transaction, the chief executive officer directly owned 162,693 shares in the company, valued at approximately $13,651,569.63. This represents a 47.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Dunne sold 10,000 shares of NextEra Energy stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the transaction, the executive vice president owned 62,064 shares in the company, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 168,168 shares of company stock valued at $13,917,670. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Tripletail Wealth Management LLC acquired a new position in NextEra Energy during the 3rd quarter valued at about $25,000. Activest Wealth Management lifted its holdings in shares of NextEra Energy by 79.7% in the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of NextEra Energy during the second quarter valued at approximately $25,000. Goodman Advisory Group LLC bought a new stake in NextEra Energy during the second quarter worth $25,000. Finally, 1 North Wealth Services LLC purchased a new stake in NextEra Energy in the 1st quarter valued at $26,000. 78.72% of the stock is owned by 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.