Barclays Cuts NextEra Energy (NYSE:NEE) Price Target to $72.00

NextEra Energy (NYSE:NEE) had its price target reduced by equities researchers at Barclays from $73.00 to $72.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential downside of 1.23% from the stock’s previous close.

A number of other brokerages have also weighed in on NEE. BMO Capital Markets raised their price objective on NextEra Energy from $78.00 to $79.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $76.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Royal Bank of Canada raised their price objective on NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Bank of America lifted their price target on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Finally, Mizuho lowered NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price target on the stock. in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

NextEra Energy Trading Up 1.1 %

Shares of NYSE:NEE opened at $72.90 on Tuesday. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $80.47. The firm has a market capitalization of $149.78 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.47 and a beta of 0.54. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. The business’s 50 day moving average price is $74.04 and its 200-day moving average price is $65.10.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The business’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. On average, equities research analysts forecast that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy

Several institutional investors have recently bought and sold shares of the company. Renasant Bank grew its position in NextEra Energy by 1.0% in the 1st quarter. Renasant Bank now owns 14,614 shares of the utilities provider’s stock valued at $934,000 after acquiring an additional 142 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its stake in shares of NextEra Energy by 1.8% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 8,029 shares of the utilities provider’s stock valued at $513,000 after buying an additional 143 shares during the period. GSG Advisors LLC boosted its stake in shares of NextEra Energy by 2.6% in the 1st quarter. GSG Advisors LLC now owns 6,509 shares of the utilities provider’s stock valued at $407,000 after buying an additional 162 shares during the period. Greenfield Savings Bank boosted its stake in shares of NextEra Energy by 0.5% in the 4th quarter. Greenfield Savings Bank now owns 32,220 shares of the utilities provider’s stock valued at $1,957,000 after buying an additional 163 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of NextEra Energy by 2.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 6,729 shares of the utilities provider’s stock valued at $430,000 after buying an additional 163 shares during the period. 78.72% of the stock is owned by institutional investors and hedge funds.

About NextEra Energy

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.