Zacks Investment Research upgraded shares of NextEra Energy (NYSE:NEE) from a hold rating to a buy rating in a research note released on Friday, January 12th. Zacks Investment Research currently has $169.00 price objective on the utilities provider’s stock.
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 subject of several other reports. Bank of America initiated coverage on NextEra Energy in a research note on Tuesday, October 24th. They set a buy rating and a $166.00 price objective for the company. Royal Bank of Canada reiterated a buy rating and issued a $156.00 price objective on shares of NextEra Energy in a report on Tuesday, November 7th. Credit Suisse Group started coverage on NextEra Energy in a report on Thursday, December 7th. They issued an outperform rating and a $173.00 price objective on the stock. KeyCorp reiterated a buy rating and issued a $155.00 price objective on shares of NextEra Energy in a report on Thursday, October 12th. Finally, Guggenheim restated a buy rating and set a $177.00 price target on shares of NextEra Energy in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $159.56.
Shares of NextEra Energy (NEE) traded down $1.10 during mid-day trading on Friday, reaching $150.78. The company had a trading volume of 1,987,700 shares, compared to its average volume of 2,066,225. NextEra Energy has a 1 year low of $117.91 and a 1 year high of $159.40. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The stock has a market cap of $70,930.00, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.79 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.08. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.74 EPS. sell-side analysts predict that NextEra Energy will post 6.73 EPS for the current year.
In other NextEra Energy news, Director James L. Robo sold 30,000 shares of NextEra Energy stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of NextEra Energy stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the completion of the sale, the chief executive officer now directly owns 121,958 shares of the company’s stock, valued at $19,202,287.10. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Whalerock Point Partners LLC lifted its holdings in NextEra Energy by 0.3% in the 2nd quarter. Whalerock Point Partners LLC now owns 5,598 shares of the utilities provider’s stock worth $784,000 after buying an additional 15 shares in the last quarter. First Interstate Bank increased its position in shares of NextEra Energy by 1.3% in the 2nd quarter. First Interstate Bank now owns 1,259 shares of the utilities provider’s stock worth $176,000 after purchasing an additional 16 shares during the last quarter. Sfmg LLC increased its position in shares of NextEra Energy by 0.7% in the 2nd quarter. Sfmg LLC now owns 2,679 shares of the utilities provider’s stock worth $375,000 after purchasing an additional 19 shares during the last quarter. South Texas Money Management Ltd. increased its position in shares of NextEra Energy by 0.5% in the 2nd quarter. South Texas Money Management Ltd. now owns 3,604 shares of the utilities provider’s stock worth $505,000 after purchasing an additional 19 shares during the last quarter. Finally, Savant Capital LLC increased its position in shares of NextEra Energy by 0.3% in the 2nd quarter. Savant Capital LLC now owns 6,181 shares of the utilities provider’s stock worth $866,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 75.41% 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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