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 target on the utilities provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.29% from the stock’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.”
NEE has been the topic of a number of other reports. Bank of America began coverage on shares of NextEra Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $166.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $156.00 target price on shares of NextEra Energy in a research note on Tuesday, November 7th. Credit Suisse Group began coverage on shares of NextEra Energy in a research note on Thursday, December 7th. They issued an “outperform” rating and a $173.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and issued a $155.00 target price on shares of NextEra Energy in a research note on Thursday, October 12th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $177.00 target price on shares of NextEra Energy in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. NextEra Energy presently has an average rating of “Buy” and an average target price of $159.56.
Shares of NextEra Energy (NYSE:NEE) traded down $0.09 during trading on Friday, hitting $150.50. 1,887,600 shares of the stock were exchanged, compared to its average volume of 2,127,075. NextEra Energy has a 52-week low of $117.88 and a 52-week high of $159.40. The stock has a market capitalization of $70,860.00, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.80 and a beta of 0.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.61.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $4.89 billion. During the same period in the prior year, the firm posted $1.74 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. equities research analysts expect that NextEra Energy will post 6.73 EPS for the current year.
In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 42,372 shares of NextEra Energy stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 121,958 shares of the company’s stock, valued at $19,202,287.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Robo sold 30,000 shares of NextEra Energy stock in a transaction that occurred on Thursday, November 2nd. The stock was 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. Company insiders own 0.53% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Achmea Investment Management B.V. grew its holdings in shares of NextEra Energy by 61.5% in the third quarter. Achmea Investment Management B.V. now owns 52,613 shares of the utilities provider’s stock worth $7,708,000 after purchasing an additional 20,028 shares during the last quarter. Almanack Investment Partners LLC. grew its holdings in shares of NextEra Energy by 64.6% in the second quarter. Almanack Investment Partners LLC. now owns 2,163 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 849 shares during the last quarter. Colony Group LLC grew its holdings in shares of NextEra Energy by 806.4% in the second quarter. Colony Group LLC now owns 15,517 shares of the utilities provider’s stock worth $2,174,000 after purchasing an additional 13,805 shares during the last quarter. South Dakota Investment Council bought a new position in shares of NextEra Energy in the third quarter worth approximately $2,535,000. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of NextEra Energy in the second quarter worth approximately $9,809,000. 75.39% of the stock is currently owned by hedge funds and other institutional investors.
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About NextEra Energy
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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