NextEra Energy, Inc. (NYSE:NEE) has received a consensus rating of “Moderate Buy” from twenty-one research firms currently covering the stock, according to MarketBeat. This assessment features input from five analysts recommending a hold, thirteen endorsing a buy, and three suggesting a strong buy. The average price target set by these analysts for the upcoming twelve months is approximately $91.00.
Analysts have closely monitored NextEra Energy, leading to several recent updates. On October 29, 2023, Citigroup reaffirmed its “buy” rating and raised its price target to $96.00, an increase from a previous target of $84.00. Similarly, BTIG Research reiterated a “buy” recommendation on October 27, 2023. Weiss Ratings maintained a “hold (C+)” rating, while Melius initiated coverage with a “buy” rating and a target price of $77.00.
Latest Earnings and Dividend Announcement
NextEra Energy reported its quarterly earnings on October 28, 2023, revealing earnings per share (EPS) of $1.13, which surpassed the consensus estimate of $1.04 by $0.09. The company achieved a return on equity of 12.42% and maintained a net margin of 24.72%. Revenue for the quarter reached $7.97 billion, slightly below analyst predictions of $8.13 billion, but reflecting a year-over-year increase of 5.3%. Analysts anticipate that NextEra Energy will report an EPS of $3.68 for the current fiscal year.
In addition, the company declared a quarterly dividend of $0.5665, to be paid on December 15, 2023, to shareholders recorded as of November 21, 2023. This annualized dividend represents a yield of 2.7% and a payout ratio of 72.29%.
Insider Activity and Institutional Investments
In related news, CEO Armando Pimentel, Jr. sold 145,140 shares of the company on November 17, 2023, at an average price of $83.91, generating a total of approximately $12.18 million. Following this transaction, he holds 162,693 shares valued at around $13.65 million, marking a 47.15% decrease in his position.
Executive Vice President Mark Lemasney also sold 846 shares on September 25, 2023, at an average price of $74.90, totaling approximately $63,365.40. After this sale, Lemasney owns 9,267 shares valued at about $694,098.30, reflecting an 8.37% reduction in ownership.
In the last ninety days, insiders have sold a total of 168,168 shares valued at approximately $13.92 million. Currently, corporate insiders hold about 0.18% of the company’s stock.
Several institutional investors have increased their stakes in NextEra Energy recently. Activest Wealth Management raised its position by 79.7% during the second quarter, now owning 354 shares valued at $25,000. Other notable investments include Harbor Asset Planning Inc., Goodman Advisory Group LLC, and Tripletail Wealth Management LLC, each acquiring new positions in the company during the second and third quarters, all valued at approximately $25,000.
Overall, institutional investors and hedge funds collectively own approximately 78.72% of NextEra Energy’s stock, reflecting strong institutional interest in the utilities provider.
NextEra Energy operates through its subsidiaries, generating and distributing electric power across North America, utilizing a diverse range of energy sources including wind, solar, nuclear, and natural gas. The company is committed to developing sustainable energy solutions and maintaining a leading role in the transition to clean energy.
