NextEra Energy (NYSE:NEE) Price Target Raised to $71.00 at Mizuho

NextEra Energy (NYSE:NEE) had its price objective lifted by Mizuho from $67.00 to $71.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Mizuho currently has a buy rating on the utilities provider’s stock.

A number of other equities research analysts also recently issued reports on NEE. Barclays started coverage on shares of NextEra Energy in a research note on Wednesday, April 10th. They issued an equal weight rating and a $66.00 price target on the stock. Bank of America upped their target price on shares of NextEra Energy from $61.00 to $67.00 and gave the stock a neutral rating in a research note on Tuesday. Royal Bank of Canada reaffirmed an outperform rating and set a $74.00 target price on shares of NextEra Energy in a research note on Tuesday, January 30th. Wells Fargo & Company boosted their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. Finally, Scotiabank boosted their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a sector outperform rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, NextEra Energy has a consensus rating of Moderate Buy and a consensus price target of $71.21.

NextEra Energy Stock Up 0.5 %

Shares of NYSE NEE opened at $66.56 on Wednesday. The firm has a market cap of $136.61 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 2.38 and a beta of 0.51. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $79.10. The company’s 50-day simple moving average is $60.47 and its 200-day simple moving average is $58.89. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. NextEra Energy’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Equities analysts predict that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. The ex-dividend date was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a yield of 3.09%. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio is presently 56.13%.

Hedge Funds Weigh In On NextEra Energy

Large investors have recently bought and sold shares of the company. Avitas Wealth Management LLC raised its position in NextEra Energy by 2.9% during the 4th quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock worth $2,299,000 after buying an additional 1,057 shares during the last quarter. Stiles Financial Services Inc increased its holdings in shares of NextEra Energy by 9.0% in the 4th quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock valued at $2,137,000 after purchasing an additional 2,899 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of NextEra Energy by 1.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock valued at $21,995,000 after purchasing an additional 6,325 shares in the last quarter. Asio Capital LLC purchased a new position in shares of NextEra Energy in the 4th quarter valued at about $2,701,000. Finally, Robertson Stephens Wealth Management LLC increased its holdings in shares of NextEra Energy by 7.3% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock valued at $1,015,000 after purchasing an additional 1,211 shares in the last quarter. Hedge funds and other institutional investors 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.