NextEra Energy (NEE) Price Target Raised to $175.00
NextEra Energy (NYSE:NEE) had its price target upped by Morgan Stanley from $173.00 to $175.00 in a research report report published on Wednesday. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.
Several other research firms have also recently issued reports on NEE. Zacks Investment Research upgraded shares of NextEra Energy from a hold rating to a buy rating and set a $178.00 price objective on the stock in a research report on Tuesday, December 12th. Credit Suisse Group assumed coverage on shares of NextEra Energy in a research report on Thursday, December 7th. They set an outperform rating and a $173.00 price objective on the stock. Argus reiterated a buy rating and set a $173.00 price objective on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. Bank of America assumed coverage on shares of NextEra Energy in a research report on Tuesday, October 24th. They set a buy rating and a $166.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a buy rating and set a $156.00 price objective on shares of NextEra Energy in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. NextEra Energy presently has a consensus rating of Buy and an average price target of $159.00.
Shares of NextEra Energy (NEE) opened at $158.43 on Wednesday. NextEra Energy has a one year low of $117.12 and a one year high of $159.40. The company has a market cap of $74,525.16, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 3.16 and a beta of 0.31. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11.
NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.89 billion. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 earnings per share. equities analysts forecast that NextEra Energy will post 6.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 24th were given a $0.9825 dividend. This represents a $3.93 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Wednesday, November 22nd. NextEra Energy’s dividend payout ratio is presently 44.16%.
In related news, Director James L. Robo sold 30,000 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the completion of the sale, the chief executive officer now owns 121,958 shares in the company, valued at approximately $19,202,287.10. The disclosure for this sale can be found here. Insiders sold 107,757 shares of company stock worth $16,419,953 in the last 90 days. 0.53% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in NextEra Energy by 0.6% during the second quarter. BlackRock Inc. now owns 38,051,440 shares of the utilities provider’s stock worth $5,332,149,000 after buying an additional 217,972 shares during the period. Vanguard Group Inc. boosted its stake in NextEra Energy by 4.6% during the second quarter. Vanguard Group Inc. now owns 34,147,719 shares of the utilities provider’s stock worth $4,785,120,000 after buying an additional 1,503,907 shares during the period. FMR LLC boosted its stake in NextEra Energy by 1.1% during the second quarter. FMR LLC now owns 7,767,929 shares of the utilities provider’s stock worth $1,088,520,000 after buying an additional 87,224 shares during the period. Geode Capital Management LLC boosted its stake in NextEra Energy by 7.9% during the first quarter. Geode Capital Management LLC now owns 4,578,611 shares of the utilities provider’s stock worth $586,925,000 after buying an additional 336,562 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in NextEra Energy by 26.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,724,367 shares of the utilities provider’s stock worth $548,102,000 after buying an additional 777,351 shares during the period. Institutional investors own 75.63% of the company’s stock.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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