NextEra Energy, Inc. (NEE) Cut to “Buy” at BidaskClub

BidaskClub cut shares of NextEra Energy, Inc. (NYSE:NEE) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, June 13th.

Several other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada reiterated a buy rating and issued a $144.00 target price on shares of NextEra Energy in a report on Tuesday, May 2nd. Morgan Stanley upped their target price on NextEra Energy from $161.00 to $162.00 and gave the stock an overweight rating in a report on Monday, May 8th. Barclays PLC reiterated an overweight rating and issued a $150.00 target price (up from $139.00) on shares of NextEra Energy in a report on Sunday, April 23rd. Deutsche Bank AG upped their target price on NextEra Energy from $128.00 to $132.00 and gave the stock a hold rating in a report on Tuesday, April 11th. Finally, Mizuho upped their target price on NextEra Energy from $138.00 to $141.00 and gave the stock a buy rating in a report on Monday, March 20th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $143.70.

NextEra Energy (NYSE:NEE) traded down 0.30% on Tuesday, hitting $141.96. 2,153,230 shares of the stock traded hands. The stock has a market cap of $66.46 billion, a price-to-earnings ratio of 17.27 and a beta of 0.33. NextEra Energy has a 52 week low of $110.49 and a 52 week high of $143.19. The firm’s 50 day moving average is $138.46 and its 200 day moving average is $128.61.

NextEra Energy (NYSE:NEE) last issued its earnings results on Friday, April 21st. The utilities provider reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.24. NextEra Energy had a return on equity of 11.82% and a net margin of 23.58%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the business earned $1.55 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that NextEra Energy will post $6.68 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Tuesday, May 30th were given a dividend of $0.9825 per share. This represents a $3.93 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, May 25th. NextEra Energy’s dividend payout ratio is currently 47.87%.

In other news, EVP Joseph T. Kelliher sold 8,068 shares of the stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $130.67, for a total value of $1,054,245.56. Following the transaction, the executive vice president now directly owns 38,634 shares of the company’s stock, valued at $5,048,304.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Armando Pimentel, Jr. sold 5,680 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $133.11, for a total value of $756,064.80. Following the completion of the transaction, the chief executive officer now directly owns 79,586 shares in the company, valued at $10,593,692.46. The disclosure for this sale can be found here. Insiders have sold a total of 74,179 shares of company stock worth $10,091,188 over the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in shares of NextEra Energy by 8.9% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after buying an additional 71 shares in the last quarter. Pacific Center for Financial Services purchased a new position in shares of NextEra Energy during the fourth quarter worth $136,000. Norway Savings Bank purchased a new position in shares of NextEra Energy during the fourth quarter worth $158,000. Pinnacle Bank purchased a new position in shares of NextEra Energy during the first quarter worth $161,000. Finally, Baystate Wealth Management LLC raised its position in shares of NextEra Energy by 49.4% in the first quarter. Baystate Wealth Management LLC now owns 1,333 shares of the utilities provider’s stock worth $174,000 after buying an additional 441 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

About NextEra Energy

NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.

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