NextEra Energy (NYSE:NEE) Price Target Cut to $84.00 by Analysts at UBS Group

NextEra Energy (NYSE:NEE - Get Free Report) had its price objective dropped by equities research analysts at UBS Group from $94.00 to $84.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the utilities provider's stock. UBS Group's price objective would indicate a potential upside of 26.01% from the stock's previous close.

NEE has been the subject of several other reports. Morgan Stanley reissued an "overweight" rating on shares of NextEra Energy in a report on Wednesday, April 23rd. Erste Group Bank cut NextEra Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Guggenheim restated a "buy" rating and set a $89.00 price objective on shares of NextEra Energy in a report on Thursday, March 20th. Evercore ISI cut their target price on shares of NextEra Energy from $84.00 to $79.00 and set an "in-line" rating on the stock in a report on Monday, January 27th. Finally, BMO Capital Markets reduced their price target on shares of NextEra Energy from $84.00 to $77.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.50.

NextEra Energy Stock Performance

NYSE:NEE traded down $0.28 during trading hours on Friday, hitting $66.66. 5,754,216 shares of the company traded hands, compared to its average volume of 11,084,047. The firm has a 50-day moving average of $68.63 and a 200 day moving average of $71.12. NextEra Energy has a twelve month low of $61.72 and a twelve month 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. The stock has a market capitalization of $137.23 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 2.45 and a beta of 0.69.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. The firm had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The business's revenue for the quarter was up 9.0% on a year-over-year basis. On average, analysts forecast that NextEra Energy will post 3.68 EPS for the current year.

Insider Buying and Selling at NextEra Energy

In related news, EVP Charles E. Sieving sold 23,684 shares of NextEra Energy stock in a transaction on Friday, May 9th. The shares were sold at an average price of $70.00, for a total transaction of $1,657,880.00. Following the completion of the transaction, the executive vice president now owns 196,817 shares of the company's stock, valued at $13,777,190. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On NextEra Energy

A number of hedge funds have recently bought and sold shares of NEE. Tradition Wealth Management LLC raised its stake in shares of NextEra Energy by 2.2% during the 1st quarter. Tradition Wealth Management LLC now owns 6,625 shares of the utilities provider's stock worth $470,000 after purchasing an additional 143 shares during the period. Accel Wealth Management raised its position in NextEra Energy by 1.7% in the fourth quarter. Accel Wealth Management now owns 8,615 shares of the utilities provider's stock worth $618,000 after acquiring an additional 145 shares during the period. L.M. Kohn & Company boosted its stake in NextEra Energy by 1.0% in the fourth quarter. L.M. Kohn & Company now owns 15,353 shares of the utilities provider's stock valued at $1,101,000 after acquiring an additional 145 shares during the last quarter. Tortoise Investment Management LLC grew its position in shares of NextEra Energy by 8.3% during the 4th quarter. Tortoise Investment Management LLC now owns 1,943 shares of the utilities provider's stock valued at $139,000 after acquiring an additional 149 shares during the period. Finally, Anchor Capital Advisors LLC increased its stake in shares of NextEra Energy by 5.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 3,105 shares of the utilities provider's stock worth $223,000 after purchasing an additional 150 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

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.

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