The stock of NextEra Energy Inc (NYSE: NEE) has increased by 0.38 when compared to last closing price of 72.46. Despite this, the company has experienced a -0.61% fall in its stock price over the last five trading sessions. marketbeat.com reported 2024-06-21 that The renewable energy sector is experiencing unprecedented growth, a trend reflected in the record-breaking 2023 installation of 305 gigawatts (GW) of new solar capacity worldwide. This surge signifies a global shift towards cleaner energy sources, with solar and wind power playing a central role in decarbonizing the global energy sector.
Is It Worth Investing in NextEra Energy Inc (NYSE: NEE) Right Now?
NextEra Energy Inc (NYSE: NEE) has a higher price-to-earnings ratio of 19.82x compared to its average ratio, The 36-month beta value for NEE is at 0.54. Analysts have varying views on the stock, with 8 analysts rating it as a “buy,” 5 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for NEE is 2.05B, and currently, shorts hold a 2.28% of that float. The average trading volume for NEE on June 21, 2024 was 11.79M shares.
NEE’s Market Performance
NEE’s stock has seen a -0.61% decrease for the week, with a -5.48% drop in the past month and a 18.54% gain in the past quarter. The volatility ratio for the week is 2.10%, and the volatility levels for the past 30 days are at 2.29% for NextEra Energy Inc The simple moving average for the last 20 days is -3.54% for NEE stock, with a simple moving average of 16.86% for the last 200 days.
Analysts’ Opinion of NEE
Many brokerage firms have already submitted their reports for NEE stocks, with Mizuho repeating the rating for NEE by listing it as a “Neutral.” The predicted price for NEE in the upcoming period, according to Mizuho is $71 based on the research report published on June 12, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see NEE reach a price target of $66. The rating they have provided for NEE stocks is “Equal Weight” according to the report published on April 10th, 2024.
Citigroup gave a rating of “Buy” to NEE, setting the target price at $69 in the report published on December 08th of the previous year.
NEE Trading at 1.43% from the 50-Day Moving Average
After a stumble in the market that brought NEE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -9.61% of loss for the given period.
Volatility was left at 2.29%, however, over the last 30 days, the volatility rate increased by 2.10%, as shares sank -4.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +13.98% upper at present.
During the last 5 trading sessions, NEE fell by -0.30%, which changed the moving average for the period of 200-days by +10.21% in comparison to the 20-day moving average, which settled at $75.24. In addition, NextEra Energy Inc saw 19.75% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NEE starting from Sieving Charles E, who sale 51,723 shares at the price of $78.55 back on May 31 ’24. After this action, Sieving Charles E now owns 197,692 shares of NextEra Energy Inc, valued at $4,062,600 using the latest closing price.
May James Michael, the VP, Controller and CAO of NextEra Energy Inc, sale 1,938 shares at $59.00 during a trade that took place back on Mar 13 ’24, which means that May James Michael is holding 17,432 shares at $114,342 based on the most recent closing price.
Stock Fundamentals for NEE
Current profitability levels for the company are sitting at:
- 0.34 for the present operating margin
- 0.63 for the gross margin
The net margin for NextEra Energy Inc stands at 0.28. The total capital return value is set at 0.06. Equity return is now at value 16.37, with 4.34 for asset returns.
Based on NextEra Energy Inc (NEE), the company’s capital structure generated 0.62 points at debt to capital in total, while cash flow to debt ratio is standing at 0.16. The debt to equity ratio resting at 1.64. The interest coverage ratio of the stock is 3.78.
Currently, EBITDA for the company is 15.91 billion with net debt to EBITDA at 5.22. When we switch over and look at the enterprise to sales, we see a ratio of 8.39. The receivables turnover for the company is 5.22for trailing twelve months and the total asset turnover is 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.51.
Conclusion
In conclusion, NextEra Energy Inc (NEE) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
