Barclays Cuts NextEra Energy (NYSE:NEE) Price Target to $65.00

NextEra Energy (NYSE:NEE - Get Free Report) had its price target cut by research analysts at Barclays from $73.00 to $65.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's price target would suggest a potential downside of 1.57% from the company's previous close.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company lowered their target price on NextEra Energy from $102.00 to $97.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Erste Group Bank raised NextEra Energy to a "strong-buy" rating in a research report on Wednesday, April 16th. Morgan Stanley reissued an "overweight" rating on shares of NextEra Energy in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 11th. Finally, Evercore ISI lowered 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 research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.46.

NextEra Energy Stock Down 1.3 %

Shares of NextEra Energy stock traded down $0.84 during trading on Tuesday, reaching $66.04. The stock had a trading volume of 11,486,597 shares, compared to its average volume of 10,804,113. The company has a market capitalization of $135.95 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 2.45 and a beta of 0.58. The stock has a fifty day moving average price of $69.10 and a two-hundred day moving average price of $72.31. NextEra Energy has a 52 week low of $61.72 and a 52 week high of $86.10. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20.

NextEra Energy (NYSE:NEE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting analysts' consensus estimates of $0.99. The company had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Sell-side analysts predict that NextEra Energy will post 3.68 EPS 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 that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the sale, the chief accounting officer now directly owns 27,427 shares in the company, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Trading of NextEra Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of NextEra Energy by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 205,297,225 shares of the utilities provider's stock valued at $14,717,758,000 after buying an additional 2,090,538 shares in the last quarter. Norges Bank purchased a new position in NextEra Energy during the 4th quarter valued at about $3,484,197,000. Geode Capital Management LLC grew its holdings in shares of NextEra Energy by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 43,778,016 shares of the utilities provider's stock worth $3,129,132,000 after acquiring an additional 1,359,268 shares during the period. Northern Trust Corp grew its holdings in shares of NextEra Energy by 9.6% during the 4th quarter. Northern Trust Corp now owns 23,090,426 shares of the utilities provider's stock worth $1,655,353,000 after acquiring an additional 2,030,331 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of NextEra Energy by 4.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,523,786 shares of the utilities provider's stock worth $1,041,210,000 after acquiring an additional 588,038 shares during the period. 78.72% of the stock is currently owned by hedge funds and other 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.