Q1 2017 EPS Estimates for NextEra Energy Inc (NEE) Cut by Analyst
NextEra Energy Inc (NYSE:NEE) – Equities researchers at KeyCorp dropped their Q1 2017 earnings estimates for NextEra Energy in a note issued to investors on Tuesday. KeyCorp analyst P. Ridzon now anticipates that the utilities provider will post earnings of $1.61 per share for the quarter, down from their previous forecast of $1.65.
Several other analysts have also recently issued reports on NEE. BMO Capital Markets restated a “buy” rating and set a $135.00 price objective on shares of NextEra Energy in a research note on Friday, March 31st. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 3rd. Royal Bank of Canada restated a “buy” rating and set a $143.00 price objective on shares of NextEra Energy in a research note on Tuesday, February 7th. Deutsche Bank AG upped their price objective on NextEra Energy from $128.00 to $132.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Finally, Barclays PLC restated a “buy” rating and set a $139.00 price objective on shares of NextEra Energy in a research note on Sunday, February 19th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $138.50.
NextEra Energy (NYSE:NEE) opened at 131.50 on Thursday. The stock has a market cap of $61.49 billion, a PE ratio of 21.04 and a beta of 0.23. The stock has a 50 day moving average price of $130.40 and a 200 day moving average price of $123.27. NextEra Energy has a 52 week low of $110.49 and a 52 week high of $133.28.
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NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Friday, January 27th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by $0.08. The company earned $3.70 billion during the quarter, compared to analysts’ expectations of $4.16 billion. NextEra Energy had a net margin of 17.92% and a return on equity of 11.74%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 EPS.
In other news, insider Manoochehr K. Nazar sold 23,674 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $130.86, for a total transaction of $3,097,979.64. Following the sale, the insider now directly owns 114,721 shares in the company, valued at approximately $15,012,390.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James L. Robo sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $122.60, for a total value of $3,678,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 66,200 shares of company stock worth $8,415,204 over the last quarter. Insiders own 0.66% of the company’s stock.
Several hedge funds have recently made changes to their positions in NEE. Garde Capital Inc. bought a new stake in shares of NextEra Energy during the third quarter worth $576,000. Quadrant Capital Group LLC boosted its stake in shares of NextEra Energy by 4.8% in the third quarter. Quadrant Capital Group LLC now owns 1,758 shares of the utilities provider’s stock worth $205,000 after buying an additional 80 shares during the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of NextEra Energy by 2.9% in the third quarter. Sumitomo Life Insurance Co. now owns 26,505 shares of the utilities provider’s stock worth $3,242,000 after buying an additional 742 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of NextEra Energy by 3.5% in the third quarter. Oakworth Capital Inc. now owns 2,287 shares of the utilities provider’s stock worth $280,000 after buying an additional 78 shares during the last quarter. Finally, Wagner Bowman Management Corp boosted its stake in shares of NextEra Energy by 251.4% in the third quarter. Wagner Bowman Management Corp now owns 5,935 shares of the utilities provider’s stock worth $725,000 after buying an additional 4,246 shares during the last quarter. Institutional investors and hedge funds own 73.69% of the company’s stock.
NextEra Energy Company Profile
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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