Zacks Investment Research upgraded shares of NextEra Energy (NYSE:NEE) from a hold rating to a buy rating in a report released on Thursday, January 4th. Zacks Investment Research currently has $170.00 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. Investment made by the company to strengthen its infrastructure helped it overcome the difficult situation and quickly restore normalcy of operations in difficult weather conditions. The company is consistently registering an increase in consumer count. The company’s focus on clean energy has lowered emission levels and saved on energy bills for its customers. The natural gas pipelines, which came online in first half, 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 and delay in completion of ongoing projects could also impact profitability.”
A number of other brokerages also recently issued reports on NEE. Morgan Stanley raised their price objective on NextEra Energy from $173.00 to $175.00 and gave the stock an overweight rating in a research report on Wednesday, December 13th. Argus restated a buy rating and set a $173.00 price objective on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. JPMorgan Chase & Co. started coverage on NextEra Energy in a research note on Thursday, September 7th. They set an overweight rating and a $173.00 target price for the company. Royal Bank of Canada reaffirmed a buy rating and set a $156.00 target price on shares of NextEra Energy in a research note on Tuesday, November 7th. Finally, Guggenheim reaffirmed a buy rating and set a $177.00 target price on shares of NextEra Energy in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. NextEra Energy currently has an average rating of Buy and an average target price of $159.56.
NextEra Energy (NYSE NEE) traded down $0.18 during trading on Thursday, reaching $150.32. The company’s stock had a trading volume of 1,596,577 shares, compared to its average volume of 1,900,000. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $70,710.00, a P/E ratio of 16.89, a PEG ratio of 2.78 and a beta of 0.31. NextEra Energy has a 1 year low of $117.88 and a 1 year high of $159.40.
NextEra Energy (NYSE:NEE) last posted its earnings results on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. equities research analysts forecast that NextEra Energy will post 6.73 EPS for the current year.
In other news, Director James L. Robo sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total value of $4,545,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total value 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 approximately $19,202,287.10. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hexavest Inc. raised its position in NextEra Energy by 1.8% during the 4th quarter. Hexavest Inc. now owns 277,552 shares of the utilities provider’s stock valued at $43,351,000 after purchasing an additional 4,894 shares during the last quarter. Covenant Asset Management LLC raised its position in shares of NextEra Energy by 15.0% in the 4th quarter. Covenant Asset Management LLC now owns 2,663 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 348 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of NextEra Energy by 7.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 91,949 shares of the utilities provider’s stock worth $14,360,000 after acquiring an additional 6,650 shares in the last quarter. KAMES CAPITAL plc bought a new position in shares of NextEra Energy in the 4th quarter worth approximately $21,184,000. Finally, Rockland Trust Co. raised its position in shares of NextEra Energy by 0.9% in the 4th quarter. Rockland Trust Co. now owns 60,937 shares of the utilities provider’s stock worth $9,518,000 after acquiring an additional 541 shares in the last quarter. 75.39% of the stock is owned by institutional investors and hedge funds.
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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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