NextEra Energy (NYSE:NEE) had its price target hoisted by Royal Bank of Canada to $186.00 in a research report sent to investors on Thursday, The Fly reports. The firm currently has an outperform rating on the utilities provider’s stock.
Other analysts have also issued reports about the stock. Morgan Stanley dropped their target price on shares of NextEra Energy from $186.00 to $184.00 and set a buy rating for the company in a report on Friday, September 21st. Mizuho initiated coverage on shares of NextEra Energy in a report on Monday, August 13th. They set a buy rating and a $184.00 target price for the company. Zacks Investment Research upgraded shares of NextEra Energy from a hold rating to a buy rating and set a $191.00 target price for the company in a report on Wednesday, August 8th. ValuEngine upgraded shares of NextEra Energy from a hold rating to a buy rating in a report on Thursday, August 2nd. Finally, Argus increased their price target on shares of NextEra Energy from $184.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $174.62.
Shares of NextEra Energy stock traded down $2.32 during trading on Thursday, reaching $168.15. 2,951,568 shares of the stock were exchanged, compared to its average volume of 1,958,013. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.72. The firm has a market cap of $82.95 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.67 and a beta of 0.20. NextEra Energy has a 1 year low of $145.10 and a 1 year high of $176.82.
NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, October 23rd. The utilities provider reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.03. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.92 billion. NextEra Energy had a net margin of 51.25% and a return on equity of 10.21%. NextEra Energy’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.85 earnings per share. Research analysts forecast that NextEra Energy will post 7.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Thursday, November 29th. NextEra Energy’s payout ratio is currently 66.27%.
In related news, Treasurer Paul I. Cutler sold 11,016 shares of the stock in a transaction dated Wednesday, October 10th. The shares were sold at an average price of $175.08, for a total value of $1,928,681.28. Following the completion of the transaction, the treasurer now directly owns 102,291 shares of the company’s stock, valued at $17,909,108.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rudy E. Schupp sold 1,600 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $167.00, for a total transaction of $267,200.00. Following the completion of the transaction, the director now directly owns 21,300 shares of the company’s stock, valued at $3,557,100. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,024 shares of company stock valued at $12,742,375. 0.55% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in NEE. Northern Trust Corp increased its stake in shares of NextEra Energy by 1.0% during the second quarter. Northern Trust Corp now owns 6,633,362 shares of the utilities provider’s stock valued at $1,107,970,000 after purchasing an additional 64,609 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of NextEra Energy by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 4,180,979 shares of the utilities provider’s stock valued at $698,348,000 after purchasing an additional 455,401 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of NextEra Energy by 1.8% during the second quarter. Janus Henderson Group PLC now owns 3,016,711 shares of the utilities provider’s stock valued at $503,883,000 after purchasing an additional 53,173 shares in the last quarter. Legal & General Group Plc increased its stake in shares of NextEra Energy by 2.1% during the second quarter. Legal & General Group Plc now owns 2,792,059 shares of the utilities provider’s stock valued at $466,332,000 after purchasing an additional 57,093 shares in the last quarter. Finally, Commonwealth Bank of Australia increased its stake in shares of NextEra Energy by 3.0% during the second quarter. Commonwealth Bank of Australia now owns 2,284,434 shares of the utilities provider’s stock valued at $382,551,000 after purchasing an additional 66,180 shares in the last quarter. 76.47% of the stock is owned by institutional investors.
NextEra Energy Company Profile
NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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