NextEra Energy (NYSE:NEE) Given New $97.00 Price Target at Morgan Stanley

NextEra Energy (NYSE:NEE) had its target price cut by Morgan Stanley from $98.00 to $97.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 16.29% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Melius began coverage on shares of NextEra Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price objective for the company. Barclays set a $88.00 price objective on shares of NextEra Energy and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. HSBC lifted their price target on shares of NextEra Energy from $94.00 to $95.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. raised their target price on NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, August 22nd. Finally, UBS Group reaffirmed a “buy” rating and set a $96.00 price target (up from $84.00) on shares of NextEra Energy in a research note on Wednesday, October 29th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $90.63.

NextEra Energy Price Performance

Shares of NYSE:NEE opened at $83.41 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. NextEra Energy has a 52 week low of $61.72 and a 52 week high of $87.53. The firm has a market cap of $173.71 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69. The firm’s fifty day moving average is $80.87 and its 200-day moving average is $75.21.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same period last year, the company earned $1.03 EPS. NextEra Energy’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that NextEra Energy will post 3.68 earnings per share for the current year.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Michael Dunne sold 10,000 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the sale, the executive vice president directly owned 62,064 shares in the company, valued at $4,393,510.56. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Charles E. Sieving sold 11,336 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president owned 167,481 shares of the company’s stock, valued at $13,398,480. The trade was a 6.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 168,168 shares of company stock worth $13,917,670. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Sax Wealth Advisors LLC boosted its stake in NextEra Energy by 0.6% in the 3rd quarter. Sax Wealth Advisors LLC now owns 19,380 shares of the utilities provider’s stock worth $1,463,000 after purchasing an additional 118 shares during the period. apricus wealth LLC lifted its stake in NextEra Energy by 3.8% in the 3rd quarter. apricus wealth LLC now owns 3,272 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 120 shares in the last quarter. Isthmus Partners LLC boosted its holdings in NextEra Energy by 1.9% in the 3rd quarter. Isthmus Partners LLC now owns 6,590 shares of the utilities provider’s stock valued at $497,000 after purchasing an additional 120 shares during the period. Fingerlakes Wealth Management Inc. grew its position in shares of NextEra Energy by 0.8% during the 3rd quarter. Fingerlakes Wealth Management Inc. now owns 16,215 shares of the utilities provider’s stock valued at $1,224,000 after purchasing an additional 124 shares in the last quarter. Finally, Heritage Wealth Management Inc. raised its position in shares of NextEra Energy by 1.0% in the third quarter. Heritage Wealth Management Inc. now owns 12,320 shares of the utilities provider’s stock worth $930,000 after buying an additional 125 shares in the last quarter. 78.72% of the stock is currently 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.