NextEra Energy (NYSE:NEE) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

NextEra Energy, Inc. (NYSE:NEE) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $87.23 and traded as high as $88.79. NextEra Energy shares last traded at $88.3660, with a volume of 27,509,679 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of NextEra Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. Jefferies Financial Group reiterated a “hold” rating on shares of NextEra Energy in a research note on Thursday, October 8th. Piper Sandler set a $88.00 price objective on shares of NextEra Energy in a report on Tuesday, October 20th. Seaport Research Partners reaffirmed a “sell” rating and issued a $56.00 target price (up from $55.00) on shares of NextEra Energy in a report on Friday, October 2nd. Finally, Weiss Ratings upgraded shares of NextEra Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.80.

NextEra Energy Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.53 and a debt-to-equity ratio of 1.33. The company has a market cap of $185.33 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60. The company has a fifty day simple moving average of $80.35 and a two-hundred day simple moving average of $87.23.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 21st. The utilities provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $8.47 billion. NextEra Energy had a return on equity of 12.27% and a net margin of 40.37%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. On average, equities research analysts anticipate that NextEra Energy, Inc. will post 4.01 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 27th will be paid a $0.6232 dividend. This represents a $2.49 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 27th. NextEra Energy’s dividend payout ratio is presently 44.86%.

Hedge Funds Weigh In On NextEra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEE. Keybank National Association OH lifted its position in NextEra Energy by 1.4% in the third quarter. Keybank National Association OH now owns 1,687,902 shares of the utilities provider’s stock worth $127,842,000 after purchasing an additional 22,682 shares during the period. Cornerstone Wealth Management LLC increased its holdings in NextEra Energy by 11.2% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 34,512 shares of the utilities provider’s stock valued at $2,614,000 after buying an additional 3,472 shares during the period. Narwhal Capital Management increased its holdings in NextEra Energy by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 163,077 shares of the utilities provider’s stock valued at $12,351,000 after buying an additional 7,894 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in shares of NextEra Energy by 8.6% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 56,654 shares of the utilities provider’s stock valued at $4,291,000 after buying an additional 4,476 shares in the last quarter. Finally, 71 West Capital Partners raised its stake in shares of NextEra Energy by 7.3% in the 3rd quarter. 71 West Capital Partners now owns 17,471 shares of the utilities provider’s stock valued at $1,323,000 after buying an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

About NextEra Energy

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy’s principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.