BMO Capital Markets Lowers NextEra Energy (NYSE:NEE) Price Target to $68.00

NextEra Energy (NYSE:NEE) had its target price cut by stock analysts at BMO Capital Markets from $77.00 to $68.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 6.60% from the stock’s current price.

NEE has been the subject of a number of other research reports. Guggenheim increased their target price on shares of NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Barclays started coverage on shares of NextEra Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 price objective for the company. Mizuho reaffirmed a “buy” rating and issued a $67.00 price objective (up previously from $65.00) on shares of NextEra Energy in a research report on Friday, March 15th. StockNews.com downgraded shares of NextEra Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and a consensus target price of $71.36.

NextEra Energy Trading Up 3.4 %

Shares of NEE stock opened at $63.79 on Tuesday. The firm’s 50-day simple moving average is $59.58 and its 200-day simple moving average is $58.39. The firm has a market cap of $130.92 billion, a P/E ratio of 17.67, a PEG ratio of 2.26 and a beta of 0.51. NextEra Energy has a 1-year low of $47.15 and a 1-year high of $79.78. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.55 and a quick ratio of 0.47.

NextEra Energy (NYSE:NEE) last posted its earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.72 billion. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. During the same quarter in the prior year, the company earned $0.51 EPS. As a group, equities analysts forecast that NextEra Energy will post 3.4 EPS for the current year.

Institutional Trading of NextEra Energy

A number of hedge funds have recently made changes to their positions in NEE. Coppell Advisory Solutions LLC bought a new position in NextEra Energy during the second quarter worth $32,000. Clear Investment Research LLC lifted its stake in NextEra Energy by 387.2% during the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 364 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in NextEra Energy during the fourth quarter worth $29,000. Stuart Chaussee & Associates Inc. lifted its stake in NextEra Energy by 315.4% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 410 shares during the last quarter. Finally, GeoWealth Management LLC lifted its stake in NextEra Energy by 124.1% during the first quarter. GeoWealth Management LLC now owns 549 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Company Profile

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.