The Vanguard Group, Inc. recently announced the acquisition of new stake in NextEra Energy Inc (NYSE:NEE). The institutional investor has increased its shareholding in the Utilities company by 0.82% to 189.06 million shares with purchase of 1.53 million shares. This fresh investment now brings its stake to 9.22% valued currently at $11.02 billion. In addition, BlackRock Fund Advisors raised its holdings by 3.81 million to 101.85 million shares. And JPMorgan Investment Management, I has lifted its position by 10.59% or 5.39 million shares – to 56.26 million shares.
With over 10.66 million NextEra Energy Inc (NEE) shares trading Monday and a closing price of $59.71 on the day, the dollar volume was approximately $636.59 million. The shares have shown a negative half year performance of -19.29% and its price on 12/11/23 gained nearly 0.02%. Currently, there are 2.05B common shares owned by the public and among those 2.04B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for NEE have a consensus price objective of $68.56. The analysts have set the share’s price value over the next 12 months at a high of $84.00 and a low of $44.00. The average price target is 12.91% above its recent price level and a downside to the estimated low will see the stock lose -35.7% over that period. But an upside of 28.92% will see the stock hit the forecast high price target while median target price for the stock is $69.50.
Insiders at the company have transacted a total of 76 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 50 of these insider trades were purchases, accounting for 332,655 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 91,286 shares.
The top 3 mutual fund holders in NextEra Energy Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Government Pension Fund – Global. Vanguard Total Stock Market ETF owns 64.21 million shares of the company’s stock, all valued at over $3.74 billion. The company bought an additional 0.3 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.24 million shares to see its total holdings expand to 48.87 million shares valued at over $2.85 billion and representing 2.38% of the shares outstanding. Government Pension Fund – Global bought 4.17 million shares to bring its total holdings to over 32.89 million shares at a value of $1.92 billion. Government Pension Fund – Global now owns shares totaling to 1.60% of the shares outstanding.
Shares of NextEra Energy Inc (NYSE: NEE) opened at $58.53, down -$1.17 from a prior closing price of $59.70. However, the script later moved the day high at 59.94, up 0.02%. The company’s stock has a 5-day price change of 1.77% and -11.84% over the past three months. NEE shares are trading -28.58% year to date (YTD), with the 12-month market performance down to -30.38% lower. It has a 12-month low price of $47.15 and touched a high of $88.61 over the same period. NEE has an average intraday trading volume of 15.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.22%, 6.72%, and -13.00% respectively.
Institutional ownership of NextEra Energy Inc (NYSE: NEE) shares accounts for 79.88% of the company’s 2.05B shares outstanding. Mutual fund holders own 38.67%, while other institutional holders and individual stakeholders account for 41.75% and 0.26% respectively.
It has a market capitalization of $122.51B and a beta (3y monthly) value of 0.51. The stock’s trailing 12-month PE ratio is 15.79, while the earnings-per-share (ttm) stands at $3.78. The company has a PEG of 1.94 and a Quick Ratio of 0.43 with the debt-to-equity ratio at 1.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.05% over the week and 2.17% over the month.
Analysts forecast that NextEra Energy Inc (NEE) will achieve an EPS of $0.51 for the current quarter, $0.8 for the next quarter and $3.4 for 2024. The lowest estimate earnings-per-share for the quarter is $0.45 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.51 a year ago. Earnings per share for the fiscal year are expected to increase by 8.02%, and 8.48% over the next financial year. EPS should grow at an annualized rate of 8.15% over the next five years, compared to -5.95% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate NextEra Energy Inc (NEE) as a “Strong Buy” at a consensus score of 1.76. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 3 of the 21 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the NEE, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on December 08, 2023, with the firm’s price target at $69.
