Zacks Investment Research downgraded shares of NextEra Energy (NYSE:NEE) from a buy rating to a hold rating in a report issued on Thursday.
According to Zacks, “In last 12 months, shares of NextEra Energy have outperformed its industry. The company’s investments to strengthen its infrastructure and ongoing capital projects, on completion, will help serve its expanding customer base more efficiently. The expansion of its natural gas operation through strategic acquisitions is going to have a positive impact on earnings. However, the company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Substantial investments are undertaken to ensure the safety of nuclear operation. That said, the risk of unplanned outages remains, which could derail its normal operation and impact profitability.”
Other analysts also recently issued research reports about the company. Barclays lifted their price objective on NextEra Energy from $182.00 to $187.00 and gave the stock a hold rating in a research note on Monday, November 19th. Morgan Stanley cut their target price on NextEra Energy from $186.00 to $184.00 and set a buy rating on the stock in a research report on Friday, September 21st. Argus upped their price objective on NextEra Energy from $184.00 to $190.00 and gave the company a buy rating in a research report on Wednesday, October 31st. Credit Suisse Group upped their target price on NextEra Energy from $186.00 to $193.00 and gave the stock an outperform rating in a report on Wednesday, December 12th. Finally, Guggenheim reiterated a buy rating and issued a $205.00 target price on shares of NextEra Energy in a report on Monday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $179.15.
NYSE NEE traded up $0.60 during trading hours on Thursday, reaching $176.09. The company’s stock had a trading volume of 1,852,489 shares, compared to its average volume of 2,409,891. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.72. NextEra Energy has a 1 year low of $145.10 and a 1 year high of $184.20. The stock has a market cap of $83.49 billion, a PE ratio of 26.28, a P/E/G ratio of 2.41 and a beta of 0.22.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, October 23rd. The utilities provider reported $2.18 EPS for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.03. NextEra Energy had a return on equity of 10.21% and a net margin of 51.25%. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the previous year, the firm earned $1.85 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. On average, analysts forecast that NextEra Energy will post 7.76 EPS for the current fiscal year.
In related news, CEO Armando Pimentel, Jr. sold 4,920 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $170.11, for a total value of $836,941.20. Following the sale, the chief executive officer now owns 59,969 shares of the company’s stock, valued at approximately $10,201,326.59. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Armando Pimentel, Jr. sold 35,347 shares of the stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $180.81, for a total value of $6,391,091.07. Following the transaction, the chief executive officer now directly owns 94,596 shares in the company, valued at approximately $17,103,902.76. The disclosure for this sale can be found here. Insiders have sold a total of 79,598 shares of company stock worth $14,306,013 in the last quarter. 0.55% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of NEE. Rehmann Capital Advisory Group lifted its stake in shares of NextEra Energy by 16,992.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,864,569 shares of the utilities provider’s stock worth $11,125,000 after purchasing an additional 1,853,660 shares during the period. Capital International Investors purchased a new position in shares of NextEra Energy during the 3rd quarter worth $142,633,000. Vanguard Group Inc lifted its stake in shares of NextEra Energy by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 41,214,999 shares of the utilities provider’s stock worth $6,907,634,000 after purchasing an additional 815,916 shares during the period. Vanguard Group Inc. lifted its stake in shares of NextEra Energy by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 41,214,999 shares of the utilities provider’s stock worth $6,907,634,000 after purchasing an additional 815,916 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of NextEra Energy by 1.9% during the 3rd quarter. BlackRock Inc. now owns 36,765,396 shares of the utilities provider’s stock worth $6,161,880,000 after buying an additional 692,998 shares during the last quarter. 75.75% of the stock is currently 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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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