NextEra Energy, Inc. (NEE) Given a $169.00 Price Target at J P Morgan Chase & Co
J P Morgan Chase & Co set a $169.00 price target on NextEra Energy, Inc. (NYSE:NEE) in a research report report published on Thursday. The brokerage currently has a hold rating on the utilities provider’s stock.
NEE has been the subject of several other research reports. Goldman Sachs Group, Inc. (The) assumed coverage on NextEra Energy in a research note on Monday, July 24th. They issued a buy rating and a $160.00 price target for the company. BidaskClub upgraded NextEra Energy from a hold rating to a buy rating in a report on Tuesday, August 8th. Royal Bank Of Canada restated an outperform rating and issued a $147.00 price objective (up previously from $144.00) on shares of NextEra Energy in a report on Sunday, July 9th. Zacks Investment Research upgraded NextEra Energy from a hold rating to a buy rating and set a $165.00 price objective for the company in a report on Tuesday, October 10th. Finally, Morgan Stanley upped their price objective on NextEra Energy from $163.00 to $167.00 and gave the company an overweight rating in a report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. NextEra Energy currently has an average rating of Buy and an average price target of $153.75.
NextEra Energy (NEE) traded up 0.0598% during midday trading on Thursday, reaching $150.6401. The company’s stock had a trading volume of 240,164 shares. The company’s 50-day moving average price is $148.63 and its 200-day moving average price is $141.93. The company has a market capitalization of $70.69 billion, a price-to-earnings ratio of 17.2535 and a beta of 0.31. NextEra Energy has a 1-year low of $110.49 and a 1-year high of $152.27.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the prior year, the business posted $1.67 earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, analysts predict that NextEra Energy will post $6.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 24th will be paid a $0.9825 dividend. This represents a $3.93 annualized dividend and a yield of 2.61%. NextEra Energy’s dividend payout ratio is currently 45.02%.
In related news, EVP Joseph T. Kelliher sold 2,000 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James L. Robo sold 30,000 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total value of $4,411,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,385 shares of company stock valued at $9,614,382. Company insiders own 0.53% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Waldron LP increased its position in NextEra Energy by 1.6% in the 1st quarter. Waldron LP now owns 5,510 shares of the utilities provider’s stock worth $707,000 after purchasing an additional 87 shares during the last quarter. AT Bancorp increased its position in NextEra Energy by 9.6% in the 1st quarter. AT Bancorp now owns 12,148 shares of the utilities provider’s stock worth $1,559,000 after purchasing an additional 1,068 shares during the last quarter. Maple Capital Management Inc. increased its position in NextEra Energy by 3.3% in the 1st quarter. Maple Capital Management Inc. now owns 3,097 shares of the utilities provider’s stock worth $398,000 after purchasing an additional 100 shares during the last quarter. Harbour Investment Management LLC acquired a new position in NextEra Energy in the 1st quarter worth about $2,025,000. Finally, Xact Kapitalforvaltning AB increased its position in NextEra Energy by 9.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 36,331 shares of the utilities provider’s stock worth $4,664,000 after purchasing an additional 3,287 shares during the last quarter. 75.37% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy Company Profile
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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