NextEra Energy (NYSE:NEE) Price Target Cut to $94.00 by Analysts at Morgan Stanley

NextEra Energy (NYSE:NEE - Get Free Report) had its price objective cut by equities researchers at Morgan Stanley from $95.00 to $94.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective would suggest a potential upside of 30.68% from the company's current price.

A number of other brokerages have also issued reports on NEE. JPMorgan Chase & Co. boosted their target price on NextEra Energy from $90.00 to $91.00 and gave the company an "overweight" rating in a research report on Tuesday, March 11th. Barclays decreased their price target on NextEra Energy from $73.00 to $65.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company reduced their price target on shares of NextEra Energy from $102.00 to $97.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. UBS Group cut their price target on NextEra Energy from $94.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Finally, BMO Capital Markets decreased their price target on shares of NextEra Energy from $84.00 to $77.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $84.50.

NextEra Energy Stock Up 0.1%

NextEra Energy stock traded up $0.07 during mid-day trading on Wednesday, reaching $71.93. 3,028,569 shares of the company were exchanged, compared to its average volume of 11,083,108. The firm has a market cap of $148.08 billion, a P/E ratio of 26.92, a PEG ratio of 2.60 and a beta of 0.68. The business has a fifty day moving average of $69.28 and a 200 day moving average of $70.38. NextEra Energy has a 12-month low of $61.72 and a 12-month high of $86.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.45 and a current ratio of 0.55.

NextEra Energy (NYSE:NEE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. NextEra Energy had a net margin of 21.81% and a return on equity of 12.06%. The business had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the firm earned $0.91 EPS. The business's revenue for the quarter was up 9.0% on a year-over-year basis. Research analysts anticipate that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Charles E. Sieving sold 23,684 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 196,817 shares in the company, valued at approximately $13,777,190. The trade was a 10.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of NextEra Energy

Several institutional investors have recently bought and sold shares of the stock. 1 North Wealth Services LLC bought a new position in NextEra Energy in the 1st quarter valued at $26,000. Bellwether Advisors LLC acquired a new stake in shares of NextEra Energy in the fourth quarter valued at $30,000. Nova Wealth Management Inc. acquired a new position in NextEra Energy during the 1st quarter worth about $32,000. WealthTrak Capital Management LLC bought a new stake in NextEra Energy during the 4th quarter worth about $33,000. Finally, IMA Advisory Services Inc. acquired a new stake in NextEra Energy in the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 78.72% of the company's stock.

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.

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