NextEra Energy (NYSE:NEE) Stock Price Down 0.3% – Here’s Why

NextEra Energy, Inc. (NYSE:NEE)’s stock price dropped 0.3% during trading on Wednesday . The stock traded as low as $83.00 and last traded at $83.49. Approximately 2,948,914 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 10,720,354 shares. The stock had previously closed at $83.70.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NEE shares. Citigroup boosted their price objective on NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Wells Fargo & Company increased their price target on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Scotiabank lifted their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $85.46.

NextEra Energy Price Performance

The company has a market cap of $174.37 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 2.92 and a beta of 0.56. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $82.05 and a 200 day moving average price of $75.89.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. During the same quarter last year, the company posted $0.88 EPS. As a group, research analysts expect that NextEra Energy, Inc. will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s payout ratio is 56.13%.

Insider Activity

In related news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the transaction, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextEra Energy

A number of institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its position in shares of NextEra Energy by 0.7% in the second quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after purchasing an additional 143,748 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in NextEra Energy by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after buying an additional 691,341 shares during the period. Nordea Investment Management AB lifted its position in NextEra Energy by 22.3% in the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after buying an additional 1,268,900 shares in the last quarter. Raymond James & Associates boosted its stake in shares of NextEra Energy by 14.3% during the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after buying an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of NextEra Energy by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock valued at $431,966,000 after acquiring an additional 409,708 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

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.