NextEra Energy, Inc. (NYSE:NEE) had its price target upped by Morgan Stanley from $167.00 to $169.00 in a research note issued to investors on Friday, September 8th. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 13.96% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $158.00 target price (up previously from $150.00) on shares of NextEra Energy in a research report on Monday, June 19th. J P Morgan Chase & Co assumed coverage on NextEra Energy in a report on Thursday, September 7th. They set an “overweight” rating and a $173.00 price target on the stock. BidaskClub cut NextEra Energy from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 target price (up from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Finally, Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $151.15.
NextEra Energy (NEE) opened at 148.30 on Friday. NextEra Energy has a 1-year low of $110.49 and a 1-year high of $151.60. The firm’s 50-day moving average is $148.91 and its 200-day moving average is $139.59. The stock has a market cap of $69.59 billion, a P/E ratio of 16.99 and a beta of 0.33.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. NextEra Energy’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts forecast that NextEra Energy will post $6.73 EPS for the current year.
In other NextEra Energy news, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total value of $4,411,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perigon Wealth Management LLC grew its position in shares of NextEra Energy by 9.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 5,901 shares of the utilities provider’s stock worth $827,000 after buying an additional 496 shares during the last quarter. W. E. Donoghue & Co. LLC bought a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $2,206,000. Intl Fcstone Inc. bought a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $2,519,000. M Holdings Securities Inc. grew its position in shares of NextEra Energy by 31.8% in the 2nd quarter. M Holdings Securities Inc. now owns 3,290 shares of the utilities provider’s stock worth $461,000 after buying an additional 793 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in shares of NextEra Energy during the second quarter valued at approximately $13,249,000. 75.41% of the stock is currently owned by institutional investors.
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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