Barclays Maintains an 'Overweight' on NextEra Energy (NEE); Revising 2011 Earnings Lower
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Price: $85.03 --0%
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on NextEra Energy (NYSE: NEE) price target of $61.00.
Barclays analyst says, "At the Barclays Capital Energy-Power Conference on Wednesday, CFO Armando Pimentel indicated that 2011 earnings would be toward the lower end of their $4.35-$4.65 guidance. As a result, we are taking our 2011 estimate down from $4.55 to $4.40."
"The three reasons cited for the lower expectations were: 1) Net short energy position in Texas during August that negatively impacted results - particularly at NEE's Gexa Energy retail unit - during power price spikes during the month
2) Lower results from the proprietary trading business 3) Poor wind resource in Texas during the month (which exacerbated the short power position)."
For more ratings news on NextEra Energy click here and for the rating history of NextEra Energy click here.
Shares of NextEra Energy closed at $55.00 yesterday.
Barclays analyst says, "At the Barclays Capital Energy-Power Conference on Wednesday, CFO Armando Pimentel indicated that 2011 earnings would be toward the lower end of their $4.35-$4.65 guidance. As a result, we are taking our 2011 estimate down from $4.55 to $4.40."
"The three reasons cited for the lower expectations were: 1) Net short energy position in Texas during August that negatively impacted results - particularly at NEE's Gexa Energy retail unit - during power price spikes during the month
2) Lower results from the proprietary trading business 3) Poor wind resource in Texas during the month (which exacerbated the short power position)."
For more ratings news on NextEra Energy click here and for the rating history of NextEra Energy click here.
Shares of NextEra Energy closed at $55.00 yesterday.
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