Credit Suisse Group Reiterates “$76.00” Price Target for NextEra Energy (NYSE:NEE)

Credit Suisse Group set a $76.00 price objective on NextEra Energy (NYSE:NEEGet Rating) in a report published on Monday morning, Stock Target Advisor reports.

A number of other analysts have also recently commented on the company. BMO Capital Markets dropped their price objective on NextEra Energy from $105.00 to $93.00 in a research report on Monday, June 13th. TheStreet lowered NextEra Energy from a b rating to a c+ rating in a research note on Thursday, April 21st. StockNews.com began coverage on NextEra Energy in a research note on Thursday, March 31st. They issued a hold rating on the stock. KeyCorp raised their price target on NextEra Energy from $87.00 to $89.00 and gave the stock an overweight rating in a research note on Thursday, April 7th. Finally, Wells Fargo & Company raised their price target on NextEra Energy from $102.00 to $107.00 and gave the stock an overweight rating in a research note on Monday, April 18th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $88.86.

NextEra Energy stock opened at $77.20 on Monday. The stock has a market cap of $151.66 billion, a PE ratio of 104.32, a P/E/G ratio of 2.79 and a beta of 0.48. The stock has a 50-day moving average price of $74.27 and a 200 day moving average price of $79.90. NextEra Energy has a 52 week low of $67.22 and a 52 week high of $93.73. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 1.16.

NextEra Energy (NYSE:NEEGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The utilities provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $5.16 billion. NextEra Energy had a return on equity of 11.49% and a net margin of 8.97%. During the same quarter last year, the business posted $0.67 EPS. On average, equities analysts predict that NextEra Energy will post 2.84 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Friday, May 27th. NextEra Energy’s payout ratio is currently 229.73%.

In other news, Director Kirk S. Hachigian bought 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was acquired at an average price of $70.19 per share, for a total transaction of $701,900.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $350,950. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.38% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new position in NextEra Energy in the 4th quarter worth approximately $31,000. Contravisory Investment Management Inc. boosted its holdings in NextEra Energy by 295.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 260 shares during the period. Evolution Advisers Inc. purchased a new position in NextEra Energy in the 1st quarter worth approximately $33,000. PYA Waltman Capital LLC purchased a new position in NextEra Energy in the 1st quarter worth approximately $36,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new position in NextEra Energy in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.

About NextEra Energy (Get Rating)

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, coal, and natural gas facilities. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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