NextEra Energy Shares Drop Despite Analyst Buy Calls; Technical Charts Point to Further Downside

NextEra Energy (NEE) shares have fallen despite buy recommendations.
NEE trades below declining 50-day and 200-day moving averages. Volume has increased as traders sell.
Weekly chart shows large top formation and potential target near $45.
Daily and weekly charts show downside price targets around $55 and $41.
Traders should avoid long side until successful retest after high volume low.

thestreet.com

Relevant topic timeline:

8/29/2023

NextEra Energy Inc. stock falls Tuesday, underperforms market

Shares of NextEra Energy Inc. declined slightly as the stock market experienced a positive trading session, with the company closing below its 52-week high and underperforming compared to its competitors.

9/28/2023

Analysts Downgrade NextEra Energy, Raytheon Technologies; Cut Targets for Terex, South State

NextEra Energy Partners received two downgrades after revising its growth expectations, leading to a drop of over 20% in share value, with JPMorgan downgrading to Neutral and Oppenheimer downgrading to Perform.

9/28/2023

NextEra Energy Trims Growth View for NextEra Energy Partners, But Reaffirms Broader Outlook

NextEra Energy has maintained its fair value estimate of $82 per share, despite the company's lower long-term growth rate assumptions for NextEra Energy Partners, which is viewed as achievable and not vital to NextEra's ability to finance its capital investment plan.

10/2/2023

Nextera Energy Stock Sinks 13% After Growth Estimate Cuts and Parent's Decision to Halt Planned Asset Transfer

Nextera Energy Partners (NYSE:NEP) experienced a significant decline in its stock price due to cuts in future growth estimates, the decision by its parent company to not stage an asset dropdown, and a downgrade by Wells Fargo, which noted the company's struggles to raise capital; however, despite these challenges, the stock still has some analyst support and offers potential upside to investors.

10/3/2023

Analysts See Value in Beaten-Down NextEra Energy Stock Despite Recent Sell-Off

NextEra Energy stock has experienced a recent decline, but it is still a good long-term investment due to its value and potential for dividend growth, despite recent downgrades and concerns from analysts.

10/6/2023

NextEra Energy Stock Rises Despite Recent Underperformance; Earnings and Revenue Growth Expected

NextEra Energy's stock price increased by 1.6% in the latest market close, outpacing the gains made by the S&P 500, Dow, and Nasdaq; however, its shares have depreciated by 25.36% over the past month, underperforming the Utilities sector. The company is expected to release its earnings soon, with projected increases in earnings per share and revenue. While recent estimate revisions for NextEra Energy have been downward, the company holds a Zacks Rank of #3 (Hold). The company's valuation indicates a premium compared to its industry average, and it currently trades at a PEG ratio of 2. The Utility - Electric Power industry, to which NextEra Energy belongs, has a Zacks Industry Rank of 65, putting it in the top 26% of all industries.

Topics

Posted 10/3/2023, 12:50:04 PM

NextEra Energy Shares Drop Despite Analyst Buy Calls; Technical Charts Point to Further Downside

NextEra Energy (NEE) shares have fallen despite buy recommendations.
NEE trades below declining 50-day and 200-day moving averages. Volume has increased as traders sell.
Weekly chart shows large top formation and potential target near $45.
Daily and weekly charts show downside price targets around $55 and $41.
Traders should avoid long side until successful retest after high volume low.

thestreet.com

Relevant topic timeline:

8/29/2023

NextEra Energy Inc. stock falls Tuesday, underperforms market

9/28/2023

Analysts Downgrade NextEra Energy, Raytheon Technologies; Cut Targets for Terex, South State

9/28/2023

NextEra Energy Trims Growth View for NextEra Energy Partners, But Reaffirms Broader Outlook

10/2/2023

Nextera Energy Stock Sinks 13% After Growth Estimate Cuts and Parent's Decision to Halt Planned Asset Transfer

10/3/2023

Analysts See Value in Beaten-Down NextEra Energy Stock Despite Recent Sell-Off

10/6/2023

NextEra Energy Stock Rises Despite Recent Underperformance; Earnings and Revenue Growth Expected