Traders Buy NextEra Energy Inc. (NEE) on Weakness
Investors purchased shares of NextEra Energy Inc. (NYSE:NEE) on weakness during trading hours on Friday. $59.60 million flowed into the stock on the tick-up and $37.23 million flowed out of the stock on the tick-down, for a money net flow of $22.37 million into the stock. Of all stocks tracked, NextEra Energy had the 11th highest net in-flow for the day. NextEra Energy traded down ($1.46) for the day and closed at $125.99
NEE has been the subject of several recent research reports. Argus restated a “buy” rating and issued a $134.00 price objective (up from $128.00) on shares of NextEra Energy in a report on Tuesday, June 7th. Zacks Investment Research downgraded NextEra Energy from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. KeyCorp reiterated an “outperform” rating and issued a $134.00 target price (up from $126.00) on shares of NextEra Energy in a report on Tuesday, July 5th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of NextEra Energy in a report on Wednesday, June 8th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $135.00 target price on shares of NextEra Energy in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. NextEra Energy has a consensus rating of “Buy” and a consensus price target of C$129.07.
The company has a 50 day moving average of $127.69 and a 200-day moving average of $119.25. The company has a market cap of $58.20 billion and a price-to-earnings ratio of 22.55.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the 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 quarter in the previous year, the business posted $1.56 EPS. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy Inc. will post $6.20 earnings per share for the current year.
The business 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. This represents a $3.48 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, August 26th.
In other news, CEO Eric E. Silagy sold 5,000 shares of NextEra Energy stock in a transaction dated Monday, June 13th. The stock was sold at an average price of C$123.77, for a total value of C$618,850.00. Following the completion of the transaction, the chief executive officer now owns 26,641 shares in the company, valued at approximately C$3,297,356.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chris N. Froggatt sold 16,467 shares of NextEra Energy stock in a transaction dated Friday, July 29th. The shares were sold at an average price of C$127.61, for a total value of C$2,101,353.87. Following the completion of the transaction, the vice president now owns 22,916 shares of the company’s stock, valued at approximately C$2,924,310.76. The disclosure for this sale can be found here.
Other institutional investors recently made changes to their positions in the company. Eaton Vance Management boosted its position in shares of NextEra Energy by 14.6% in the fourth quarter. Eaton Vance Management now owns 3,408,573 shares of the company’s stock valued at $354,117,000 after buying an additional 435,350 shares during the last quarter. Jennison Associates LLC raised its stake in shares of NextEra Energy by 0.4% in the fourth quarter. Jennison Associates LLC now owns 1,396,491 shares of the company’s stock valued at $145,081,000 after buying an additional 5,932 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of NextEra Energy by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 668,806 shares of the company’s stock valued at $69,489,000 after buying an additional 49,780 shares during the period. Principal Financial Group Inc. raised its stake in shares of NextEra Energy by 1.2% in the fourth quarter. Principal Financial Group Inc. now owns 600,988 shares of the company’s stock valued at $62,437,000 after buying an additional 6,933 shares during the period. Finally, US Bancorp DE raised its stake in shares of NextEra Energy by 5.4% in the fourth quarter. US Bancorp DE now owns 590,376 shares of the company’s stock valued at $61,334,000 after buying an additional 30,251 shares during the period.
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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