NextEra Energy (NYSE:NEE) Hits New 52-Week High – Here’s Why

NextEra Energy, Inc. (NYSE:NEE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $90.58 and last traded at $90.0550, with a volume of 917128 shares changing hands. The stock had previously closed at $88.82.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NEE shares. JPMorgan Chase & Co. boosted their target price on NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. BMO Capital Markets set a $95.00 price objective on NextEra Energy in a research note on Thursday, January 29th. New Street Research set a $84.00 target price on shares of NextEra Energy in a research report on Monday, October 13th. TD Cowen initiated coverage on shares of NextEra Energy in a research report on Thursday, October 16th. They issued a “buy” rating and a $98.00 price target on the stock. Finally, Jefferies Financial Group set a $87.00 price target on shares of NextEra Energy in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $92.95.

NextEra Energy Trading Up 0.4%

The firm’s 50 day moving average is $82.65 and its 200 day moving average is $79.26. The company has a market cap of $185.66 billion, a PE ratio of 27.16, a PEG ratio of 2.67 and a beta of 0.76. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.60 and a quick ratio of 0.49.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that NextEra Energy, Inc. will post 3.68 earnings per share for the current year.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 145,140 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $83.91, for a total value of $12,178,697.40. Following the sale, the chief executive officer owned 162,693 shares of the company’s stock, valued at $13,651,569.63. This trade represents a 47.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ronald R. Reagan sold 10,826 shares of NextEra Energy stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $85.00, for a total value of $920,210.00. Following the sale, the executive vice president owned 15,643 shares of the company’s stock, valued at approximately $1,329,655. This trade represents a 40.90% decrease in their position. The SEC filing for this sale provides additional information. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NextEra Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sax Wealth Advisors LLC raised its position in shares of NextEra Energy by 0.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 19,380 shares of the utilities provider’s stock valued at $1,463,000 after buying an additional 118 shares in the last quarter. apricus wealth LLC increased its stake in NextEra Energy by 3.8% in the third quarter. apricus wealth LLC now owns 3,272 shares of the utilities provider’s stock valued at $247,000 after acquiring an additional 120 shares during the last quarter. Isthmus Partners LLC increased its stake in NextEra Energy by 1.9% in the third quarter. Isthmus Partners LLC now owns 6,590 shares of the utilities provider’s stock valued at $497,000 after acquiring an additional 120 shares during the last quarter. Fingerlakes Wealth Management Inc. raised its position in NextEra Energy by 0.8% during the third quarter. Fingerlakes Wealth Management Inc. now owns 16,215 shares of the utilities provider’s stock valued at $1,224,000 after purchasing an additional 124 shares in the last quarter. Finally, Heritage Wealth Management Inc. lifted its stake in NextEra Energy by 1.0% during the third quarter. Heritage Wealth Management Inc. now owns 12,320 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 125 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.