April Showers On Wall Street: Miners, Utilities Emerge As Bright Spots In Gloomy Market
Written by Emily J. Thompson, Senior Investment Analyst
Source: Business Insider
- Stock Market Performance in April 2024:
- S&P 500 and Nasdaq 100 experienced declines, ending streaks of gains.
- Blue-chip and small-cap stocks also showed underperformance.
- Challenges Faced by the Stock Market:
- Inflation surprises led to a recalibration of market expectations.
- Global geopolitical tensions, especially in Israel and Iran, emerged.
- Upcoming Events in May:
- Investors await the Federal Reserve Open Market Committee meeting.
- Focus on Fed Chair Jerome Powell's remarks regarding inflation surprises.
- Sector ETF Performance in April 2024:
- Utilities sector was the only one to avoid losses, rising by 2.1%.
- Real estate, technology, and healthcare sectors showed poor performance.
- Industry ETF Performance in April 2024:
- Only five out of 25 industries reported gains, with miners performing well.
- Homebuilders, transportation, biotech stocks, and real estate faced losses.
Analyst Views on NEE
Wall Street analysts forecast NEE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NEE is 92.50 USD with a low forecast of 84.00 USD and a high forecast of 100.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
12 Buy
4 Hold
0 Sell
Strong Buy
Current: 83.850
Low
84.00
Averages
92.50
High
100.00
Current: 83.850
Low
84.00
Averages
92.50
High
100.00
About NEE
NextEra Energy, Inc. is an electric power and energy infrastructure company. It operates through its wholly owned subsidiaries, NextEra Energy Resources, LLC and NextEra Energy Transmission, LLC (collectively, NEER) and Florida Power & Light Company (FPL). Its segments include NEER and FPL. FPL segment is a rate-regulated electric utility engaged in the generation, transmission, distribution and sale of electric energy in Florida. FPL has approximately 35,052 megawatts of net generating capacity, over 91,000 circuit miles of transmission and distribution lines and 921 substations. The NEER segment owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets in the United States and Canada and includes assets and investments in other businesses with a clean energy focus, such as battery storage, natural gas pipelines, and renewable fuels. It owns, develops, constructs and operates rate-regulated transmission facilities in North America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
