NextEra Energy Stock Continues To Fall: What's Going On?
Portfolio Pulse from Adam Eckert
NextEra Energy Inc's shares continue to fall following the company's announcement of selling Florida City Gas to Chesapeake Utilities Corp and lowering its limited partner distribution per unit growth rate. Several analysts have cut price targets for the company, with Goldman Sachs reducing its price target from $83 to $71.
October 02, 2023 | 9:19 pm
News sentiment analysis
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NEUTRAL IMPACT
Chesapeake Utilities Corp is acquiring Florida City Gas from NextEra Energy.
Chesapeake Utilities Corp is acquiring Florida City Gas from NextEra Energy. This acquisition could potentially strengthen Chesapeake's asset base, but the immediate impact on the stock price is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
NextEra Energy's stock price is falling due to the sale of Florida City Gas and a lowered growth rate outlook. Analysts have cut their price targets.
The sale of Florida City Gas and the lowering of the growth rate outlook have negatively impacted investor sentiment towards NextEra Energy. This is reflected in the falling stock price and the reduction of price targets by several analysts.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100