NextEra Energy (NYSE:NEE) Given New $73.00 Price Target at Scotiabank

NextEra Energy (NYSE:NEE) had its price target raised by equities researchers at Scotiabank from $69.00 to $73.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price objective would indicate a potential upside of 10.31% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. BMO Capital Markets cut their price objective on NextEra Energy from $77.00 to $68.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Mizuho reissued a “buy” rating and issued a $67.00 price objective (up from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. Barclays initiated coverage on NextEra Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 price objective on shares of NextEra Energy in a report on Tuesday, January 30th. Finally, Wells Fargo & Company increased their price objective on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.93.

NextEra Energy Trading Up 1.3 %

Shares of NYSE:NEE opened at $66.18 on Monday. The business’s 50-day moving average is $60.26 and its 200 day moving average is $58.83. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $79.25. The firm has a market capitalization of $135.83 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.31 and a beta of 0.51. 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 announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. On average, research analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy

Hedge funds have recently bought and sold shares of the business. Clear Investment Research LLC boosted its position 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 in the last quarter. BOK Financial Private Wealth Inc. acquired a new position in shares of NextEra Energy during the fourth quarter valued at approximately $29,000. Alaska Permanent Fund Corp raised its holdings in shares of NextEra Energy by 59.8% during the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 208 shares during the last quarter. Stuart Chaussee & Associates Inc. raised its holdings in shares of NextEra Energy by 315.4% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 410 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in shares of NextEra Energy during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.72% of the company’s stock.

About NextEra Energy

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.