Zacks Investment Research upgraded shares of NextEra Energy (NYSE:NEE) from a sell rating to a hold rating in a report released on Thursday.
According to Zacks, “Shares of NextEra Energy have outperformed the Industry rally in the past 12 months. NextEra Energy’s investment 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. The company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Despite investments made to strengthen its infrastructure the unpredictable nature of natural disaster could derail normal operation and impact profitability. We could also notice a decline in its fourth quarter Zacks Consensus Estimate for earnings.”
Other equities analysts have also recently issued research reports about the company. Guggenheim reaffirmed a buy rating and issued a $177.00 price target on shares of NextEra Energy in a report on Wednesday, January 3rd. Argus reaffirmed a buy rating and issued a $173.00 price target on shares of NextEra Energy in a report on Tuesday, December 5th. They noted that the move was a valuation call. Royal Bank of Canada reaffirmed a buy rating and issued a $156.00 price target on shares of NextEra Energy in a report on Tuesday, November 7th. Bank of America initiated coverage on NextEra Energy in a report on Tuesday, October 24th. They issued a buy rating and a $166.00 price target for the company. Finally, KeyCorp reaffirmed a buy rating and issued a $155.00 price target on shares of NextEra Energy in a report on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $159.56.
NextEra Energy (NEE) traded down $0.62 during midday trading on Thursday, hitting $150.16. The company had a trading volume of 2,242,502 shares, compared to its average volume of 1,890,000. NextEra Energy has a fifty-two week low of $117.91 and a fifty-two week high of $159.40. 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 firm has a market cap of $70,630.00, a PE ratio of 16.87, a PEG ratio of 2.76 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last posted its quarterly 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 analysts’ expectations of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 EPS. sell-side analysts predict that NextEra Energy will post 6.73 earnings per share for the current fiscal year.
In other news, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction that occurred on 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 SEC, which can be accessed through this link. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the company’s stock in a transaction that occurred on 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 owns 121,958 shares in the company, valued at $19,202,287.10. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Whalerock Point Partners LLC grew its stake in shares of NextEra Energy by 0.3% in the 2nd quarter. Whalerock Point Partners LLC now owns 5,598 shares of the utilities provider’s stock valued at $784,000 after purchasing an additional 15 shares during the period. First Interstate Bank grew its position in NextEra Energy by 1.3% during the 2nd quarter. First Interstate Bank now owns 1,259 shares of the utilities provider’s stock worth $176,000 after acquiring an additional 16 shares during the last quarter. Sfmg LLC grew its position in NextEra Energy by 0.7% during the 2nd quarter. Sfmg LLC now owns 2,679 shares of the utilities provider’s stock worth $375,000 after acquiring an additional 19 shares during the last quarter. South Texas Money Management Ltd. grew its position in NextEra Energy by 0.5% during the 2nd quarter. South Texas Money Management Ltd. now owns 3,604 shares of the utilities provider’s stock worth $505,000 after acquiring an additional 19 shares during the last quarter. Finally, Savant Capital LLC grew its position in NextEra Energy by 0.3% during the 2nd quarter. Savant Capital LLC now owns 6,181 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 75.41% of the company’s stock.
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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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