Analysts at Bank of America Corporation assumed coverage on shares of NextEra Energy, Inc. (NYSE:NEE) in a research report issued on Tuesday, October 24th, MarketBeat reports. The firm set a “buy” rating and a $166.00 price target on the utilities provider’s stock. Bank of America Corporation’s price objective would suggest a potential upside of 6.99% from the company’s previous close.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. KeyCorp reissued a “buy” rating and set a $155.00 price target on shares of NextEra Energy in a research note on Thursday, October 12th. J P Morgan Chase & Co set a $169.00 price objective on NextEra Energy and gave the stock a “hold” rating in a research report on Thursday, October 12th. Morgan Stanley lifted their price objective on NextEra Energy from $167.00 to $169.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Finally, BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. NextEra Energy currently has a consensus rating of “Buy” and a consensus price target of $155.38.
NextEra Energy (NYSE NEE) opened at $155.16 on Tuesday. NextEra Energy has a twelve month low of $110.49 and a twelve month high of $156.80. The stock has a market capitalization of $72,986.95, a PE ratio of 23.26, a P/E/G ratio of 3.09 and a beta of 0.31. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.08. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The company had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the company earned $1.74 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. analysts expect that NextEra Energy will post 6.73 EPS for the current year.
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In other news, Director James L. Robo sold 30,000 shares of the 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 the SEC website. Also, EVP Charles E. Sieving sold 30,485 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $146.56, for a total transaction of $4,467,881.60. Following the completion of the transaction, the executive vice president now owns 78,167 shares of the company’s stock, valued at $11,456,155.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,385 shares of company stock worth $9,748,482. 0.53% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new position in NextEra Energy in the 2nd quarter worth approximately $1,289,000. Almanack Investment Partners LLC. lifted its position in NextEra Energy by 64.6% in the 2nd quarter. Almanack Investment Partners LLC. now owns 2,163 shares of the utilities provider’s stock worth $303,000 after buying an additional 849 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in NextEra Energy by 12.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 9,001 shares of the utilities provider’s stock worth $1,154,000 after buying an additional 1,012 shares in the last quarter. NGAM Advisors L.P. lifted its position in NextEra Energy by 8.9% in the 2nd quarter. NGAM Advisors L.P. now owns 63,026 shares of the utilities provider’s stock worth $8,832,000 after buying an additional 5,175 shares in the last quarter. Finally, Capital One National Association lifted its position in NextEra Energy by 30.9% in the 2nd quarter. Capital One National Association now owns 21,617 shares of the utilities provider’s stock worth $3,030,000 after buying an additional 5,099 shares in the last quarter. 75.19% of the stock is owned by hedge funds and other institutional investors.
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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