KeyCorp Weighs in on NextEra Energy Inc’s FY2017 Earnings (NEE)
NextEra Energy Inc (NYSE:NEE) – Investment analysts at KeyCorp lifted their FY2017 earnings per share (EPS) estimates for shares of NextEra Energy in a report released on Monday. KeyCorp analyst P. Ridzon now forecasts that the utilities provider will earn $6.80 per share for the year, up from their previous forecast of $6.75. KeyCorp has a “Buy” rating and a $155.00 price objective on the stock. KeyCorp also issued estimates for NextEra Energy’s Q4 2017 earnings at $1.34 EPS.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised NextEra Energy from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research report on Tuesday, December 12th. Guggenheim restated a “buy” rating and set a $177.00 price target on shares of NextEra Energy in a research note on Wednesday, January 3rd. Argus restated a “buy” rating and set a $173.00 price target on shares of NextEra Energy in a research note on Tuesday, December 5th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating and set a $156.00 price objective on shares of NextEra Energy in a research note on Tuesday, November 7th. Finally, Bank of America initiated coverage on NextEra Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $166.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $159.56.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.08. The business 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 firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of NEE. Hanson McClain Inc. grew its stake in NextEra Energy by 6.0% during the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 43 shares in the last quarter. Risk Paradigm Group LLC lifted its holdings in shares of NextEra Energy by 108.1% in the 3rd quarter. Risk Paradigm Group LLC now owns 851 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 442 shares during the last quarter. Archford Capital Strategies LLC raised its stake in NextEra Energy by 76.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 4,347 shares during the last quarter. Cerebellum GP LLC purchased a new stake in NextEra Energy during the 4th quarter valued at approximately $128,000. Finally, Highstreet Asset Management Inc. purchased a new stake in NextEra Energy during the 2nd quarter valued at approximately $134,000. 75.46% of the stock is owned by institutional investors and hedge funds.
In related news, Director James L. Robo sold 30,000 shares of NextEra Energy stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total transaction of $4,545,600.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of NextEra Energy stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the transaction, 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. 0.53% of the stock is currently owned by company insiders.
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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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