NextEra Energy (NYSE:NEE) PT Lowered to $72.00

NextEra Energy (NYSE:NEE) had its price target cut by stock analysts at Barclays from $73.00 to $72.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target points to a potential downside of 1.23% from the company’s current price.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Wells Fargo & Company reiterated an “overweight” rating and issued a $95.00 price objective on shares of NextEra Energy in a research note on Wednesday, June 12th. Mizuho cut shares of NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price objective on the stock. in a research note on Wednesday, June 12th. Citigroup increased their price objective on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy from $76.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $77.50.

NextEra Energy Stock Performance

Shares of NEE stock opened at $72.90 on Tuesday. NextEra Energy has a one year low of $47.15 and a one year high of $80.47. The company’s 50-day moving average is $74.04 and its 200 day moving average is $65.10. The company has a market capitalization of $149.78 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.47 and a beta of 0.54. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. NextEra Energy’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. Sell-side analysts expect that NextEra Energy will post 3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy

Several hedge funds have recently modified their holdings of the stock. Csenge Advisory Group lifted its holdings in shares of NextEra Energy by 2.4% in the second quarter. Csenge Advisory Group now owns 26,468 shares of the utilities provider’s stock worth $1,874,000 after buying an additional 608 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in shares of NextEra Energy by 1,512.4% in the second quarter. Fortitude Family Office LLC now owns 4,934 shares of the utilities provider’s stock worth $349,000 after buying an additional 4,628 shares in the last quarter. Legacy Financial Strategies LLC increased its position in NextEra Energy by 6.6% in the second quarter. Legacy Financial Strategies LLC now owns 44,620 shares of the utilities provider’s stock worth $3,205,000 after purchasing an additional 2,759 shares during the last quarter. Advocate Group LLC increased its position in NextEra Energy by 7.1% in the second quarter. Advocate Group LLC now owns 56,378 shares of the utilities provider’s stock worth $3,992,000 after purchasing an additional 3,753 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in NextEra Energy by 1.2% in the second quarter. Simplicity Wealth LLC now owns 43,670 shares of the utilities provider’s stock worth $3,092,000 after purchasing an additional 522 shares during the last quarter. Hedge funds and other institutional investors 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.