Investors Buy Shares of NextEra Energy Inc. (NEE) on Weakness
Investors purchased shares of NextEra Energy Inc. (NYSE:NEE) on weakness during trading hours on Thursday. $75.77 million flowed into the stock on the tick-up and $38.40 million flowed out of the stock on the tick-down, for a money net flow of $37.37 million into the stock. Of all stocks tracked, NextEra Energy had the 4th highest net in-flow for the day. NextEra Energy traded down ($0.64) for the day and closed at $127.45
A number of research firms have commented on NEE. Argus reaffirmed a “buy” rating and issued a $134.00 target price (up previously from $128.00) on shares of NextEra Energy in a research report on Tuesday, June 7th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $123.00 target price on shares of NextEra Energy in a research report on Wednesday, June 1st. Bank of America Corp. reaffirmed a “buy” rating and issued a $144.00 target price on shares of NextEra Energy in a research report on Tuesday, May 24th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of NextEra Energy in a research report on Monday, May 23rd. Finally, Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. NextEra Energy currently has a consensus rating of “Buy” and a consensus target price of C$128.36.
The company has a 50 day moving average of $127.66 and a 200 day moving average of $119.21. The company has a market cap of $58.88 billion and a price-to-earnings ratio of 22.81.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.10. The company earned $3.82 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the business posted $1.56 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. On average, equities analysts forecast that NextEra Energy Inc. will post $6.20 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Tuesday, August 30th will be paid a $0.87 dividend. The ex-dividend date is Friday, August 26th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.73%.
In other news, Director James L. Robo sold 43,773 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of C$117.27, for a total value of C$5,133,259.71. Following the sale, the director now owns 388,057 shares in the company, valued at C$45,507,444.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chris N. Froggatt sold 16,467 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of C$127.61, for a total transaction of C$2,101,353.87. Following the completion of the sale, the vice president now owns 22,916 shares in the company, valued at approximately C$2,924,310.76. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Suntrust Banks Inc. raised its stake in NextEra Energy by 2.3% in the fourth quarter. Suntrust Banks Inc. now owns 372,684 shares of the company’s stock worth $38,716,000 after buying an additional 8,459 shares during the last quarter. Agran Libbie raised its stake in NextEra Energy by 0.3% in the fourth quarter. Agran Libbie now owns 68,805 shares of the company’s stock worth $7,148,000 after buying an additional 215 shares during the last quarter. L & S Advisors Inc raised its stake in NextEra Energy by 6.3% in the fourth quarter. L & S Advisors Inc now owns 33,471 shares of the company’s stock worth $3,477,000 after buying an additional 1,973 shares during the last quarter. Alpine Woods Capital Investors LLC raised its stake in NextEra Energy by 369.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 200,488 shares of the company’s stock worth $20,829,000 after buying an additional 157,800 shares during the last quarter. Finally, Edge Asset Management Inc. raised its stake in NextEra Energy by 14.5% in the fourth quarter. Edge Asset Management Inc. now owns 698,214 shares of the company’s stock worth $72,538,000 after buying an additional 88,422 shares during the last quarter.
NextEra Energy, Inc (NEE) is a holding company. The Company operates through its wholly owned subsidiaries, Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC (NEER). It is an electric power company in North America with electric generating facilities located in 27 states in the United States and four provinces in Canada.
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