Investors Buy NextEra Energy Inc. (NEE) on Weakness
Traders bought shares of NextEra Energy Inc. (NYSE:NEE) on weakness during trading on Tuesday. $46.05 million flowed into the stock on the tick-up and $23.96 million flowed out of the stock on the tick-down, for a money net flow of $22.09 million into the stock. Of all equities tracked, NextEra Energy had the 14th highest net in-flow for the day. NextEra Energy traded down ($0.77) for the day and closed at $124.27
Several equities analysts have recently issued reports on NEE shares. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a report on Friday, May 6th. KeyCorp reaffirmed 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. Bank of America Corp. reaffirmed a “buy” rating and issued a $144.00 target price on shares of NextEra Energy in a report on Tuesday, May 24th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of NextEra Energy in a report on Monday, May 23rd. Finally, Argus reaffirmed a “buy” rating and issued a $134.00 target price (up from $128.00) on shares of NextEra Energy in a report on Tuesday, June 7th. 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 assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of C$129.07.
The stock has a 50 day moving average price of $127.47 and a 200 day moving average price of $120.80. The firm has a market cap of $57.41 billion and a P/E ratio of 22.24.
NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 27th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.10. During the same period last year, the firm posted $1.56 EPS. The company earned $3.82 billion during the quarter, compared to the consensus estimate of $4.33 billion. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. Analysts expect that NextEra Energy Inc. will post $6.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, August 26th.
In other NextEra Energy news, VP Chris N. Froggatt sold 16,467 shares of NextEra Energy stock in a transaction that occurred on 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 sale, the vice president now owns 22,916 shares of the company’s stock, valued at approximately C$2,924,310.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Treasurer Paul I. Cutler sold 4,796 shares of NextEra Energy stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of C$130.00, for a total transaction of C$623,480.00. Following the completion of the sale, the treasurer now directly owns 69,977 shares of the company’s stock, valued at approximately C$9,097,010. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of the company. Stephens Inc. AR increased its stake in NextEra Energy by 15.6% in the fourth quarter. Stephens Inc. AR now owns 26,057 shares of the company’s stock worth $2,707,000 after buying an additional 3,523 shares during the period. I.G. Investment Management LTD. increased its stake in shares of NextEra Energy by 2.9% in the fourth quarter. I.G. Investment Management LTD. now owns 29,933 shares of the company’s stock worth $3,110,000 after buying an additional 854 shares during the last quarter. American International Group Inc. increased its stake in shares of NextEra Energy by 5.1% in the fourth quarter. American International Group Inc. now owns 168,348 shares of the company’s stock worth $17,489,000 after buying an additional 8,171 shares during the last quarter. US Bancorp DE increased 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 worth $61,334,000 after buying an additional 30,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased 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 worth $69,489,000 after buying an additional 49,780 shares during the last quarter.
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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