NextEra Energy (NYSE:NEE) Downgraded by Royal Bank of Canada

NextEra Energy (NYSE:NEE) was downgraded by equities researchers at Royal Bank of Canada from a “moderate buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

Several other equities analysts have also issued reports on NEE. Bank of America raised their price target on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets upped their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Scotiabank upped their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.46.

NextEra Energy Trading Up 1.5 %

Shares of NEE opened at $84.96 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. NextEra Energy has a fifty-two week low of $53.11 and a fifty-two week high of $86.10. The firm has a 50 day moving average price of $82.19 and a 200-day moving average price of $75.96. The firm has a market cap of $174.55 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.92 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. As a group, equities research analysts forecast that NextEra Energy will post 3.4 earnings per share for the current year.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the transaction, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NextEra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in NEE. Osborne Partners Capital Management LLC grew its stake in shares of NextEra Energy by 1.2% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 10,724 shares of the utilities provider’s stock worth $906,000 after buying an additional 128 shares during the last quarter. St. Johns Investment Management Company LLC boosted its holdings in NextEra Energy by 3.7% in the third quarter. St. Johns Investment Management Company LLC now owns 11,638 shares of the utilities provider’s stock worth $984,000 after acquiring an additional 412 shares in the last quarter. BKM Wealth Management LLC grew its stake in shares of NextEra Energy by 17.0% in the third quarter. BKM Wealth Management LLC now owns 20,333 shares of the utilities provider’s stock worth $1,719,000 after acquiring an additional 2,949 shares during the last quarter. Parcion Private Wealth LLC increased its holdings in shares of NextEra Energy by 12.9% during the third quarter. Parcion Private Wealth LLC now owns 6,475 shares of the utilities provider’s stock valued at $547,000 after acquiring an additional 740 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. raised its position in shares of NextEra Energy by 2.2% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 56,857 shares of the utilities provider’s stock worth $4,806,000 after purchasing an additional 1,223 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

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.