NextEra Energy (NYSE:NEE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $169.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.29% from the company’s previous close.
According to Zacks, “Shares of NextEra Energy have outperformed the industry’s rally in the last 12 months. Investments made by the company to strengthen its infrastructure and ongoing capital projects, when completed, will help it serve its expanding customer base more efficiently. The company’s focus on clean energy has helped it lower emission levels, and use of new technology has saved on energy bills for its customers. The natural gas pipelines, which came online in first half of 2017, are expected to boost its performance. On the flip side, the company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Unpredictable impact of natural disaster could derail normal operation and impact profitability.”
Several other analysts have also recently weighed in on the stock. Guggenheim reiterated a “buy” rating and issued a $177.00 price target on shares of NextEra Energy in a report on Wednesday, January 3rd. Argus reiterated a “buy” rating and issued a $173.00 price target on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating and issued a $156.00 price target on shares of NextEra Energy in a report on Tuesday, November 7th. Bank of America started coverage on shares of NextEra Energy in a report on Tuesday, October 24th. They issued a “buy” rating and a $166.00 price target on the stock. Finally, KeyCorp reiterated a “buy” rating and issued a $155.00 price target on shares of NextEra Energy in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. NextEra Energy presently has a consensus rating of “Buy” and a consensus target price of $159.56.
Shares of NextEra Energy (NEE) traded down $0.09 during trading on Friday, hitting $150.50. 1,887,600 shares of the stock traded hands, compared to its average volume of 2,127,075. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.61 and a quick ratio of 0.49. NextEra Energy has a 1 year low of $117.88 and a 1 year high of $159.40. The company has a market capitalization of $70,860.00, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last issued its earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.08. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business earned $1.74 earnings per share. The business’s revenue was up .1% on a year-over-year basis. analysts forecast that NextEra Energy will post 6.73 earnings per share for the current year.
In other news, CEO Armando Pimentel, Jr. sold 42,372 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the sale, the chief executive officer now owns 121,958 shares in the company, valued at approximately $19,202,287.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $4,545,600.00. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Hanson McClain Inc. raised its position in shares of NextEra Energy by 6.0% in 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 during the last quarter. Risk Paradigm Group LLC raised its position 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 worth $125,000 after purchasing an additional 442 shares during the last quarter. Archford Capital Strategies LLC raised its position in shares of NextEra Energy by 76.9% in the 2nd quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 4,347 shares during the last quarter. Highstreet Asset Management Inc. purchased a new position in shares of NextEra Energy in the 2nd quarter worth about $134,000. Finally, Horan Capital Advisors LLC. purchased a new position in shares of NextEra Energy in the 3rd quarter worth about $134,000. Hedge funds and other institutional investors own 75.39% of the company’s stock.
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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