Investors Buy NextEra Energy Inc (NEE) on Weakness
Investors bought shares of NextEra Energy Inc (NYSE:NEE) on weakness during trading on Friday. $123.74 million flowed into the stock on the tick-up and $75.86 million flowed out of the stock on the tick-down, for a money net flow of $47.88 million into the stock. Of all stocks tracked, NextEra Energy had the 13th highest net in-flow for the day. NextEra Energy traded down ($1.23) for the day and closed at $148.26
Several brokerages recently commented on NEE. BidaskClub raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. J P Morgan Chase & Co began coverage on shares of NextEra Energy in a report on Thursday. They set an “overweight” rating and a $173.00 target price for the company. Morgan Stanley lifted their target price on shares of NextEra Energy from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. KeyCorp reaffirmed a “buy” rating and set a $155.00 target price on shares of NextEra Energy in a report on Friday, September 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $147.00 target price (up previously from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. NextEra Energy currently has a consensus rating of “Buy” and an average target price of $151.15.
The stock’s 50 day moving average price is $147.90 and its 200-day moving average price is $138.54. The firm has a market capitalization of $69.57 billion, a PE ratio of 16.98 and a beta of 0.33.
NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.10. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. NextEra Energy had a net margin of 18.26% and a return on equity of 12.37%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business earned $1.67 earnings per share. On average, analysts expect that NextEra Energy Inc will post $6.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a dividend of $0.9825 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $3.93 dividend on an annualized basis and a yield of 2.65%. NextEra Energy’s dividend payout ratio is presently 45.02%.
In other NextEra Energy news, Director James L. Robo sold 30,000 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $147.05, for a total transaction of $4,411,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Hanson McClain Inc. boosted its position in shares of NextEra Energy by 6.0% in the second quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 43 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted 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 valued at $112,000 after acquiring an additional 71 shares during the period. Highstreet Asset Management Inc. bought a new position in shares of NextEra Energy in the second quarter valued at approximately $134,000. Atlantic Trust LLC bought a new position in shares of NextEra Energy in the second quarter valued at approximately $154,000. Finally, Pacific Center for Financial Services boosted its position in shares of NextEra Energy by 50.1% in the second quarter. Pacific Center for Financial Services now owns 1,139 shares of the utilities provider’s stock valued at $160,000 after acquiring an additional 380 shares during the period. Institutional investors own 75.67% of the company’s stock.
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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