NextEra Energy (NYSE:NEE) Price Target Raised to $98.00

NextEra Energy (NYSE:NEE) had its price target lifted by Wells Fargo & Company from $97.00 to $98.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reiterated an “outperform” rating and set a $89.00 price objective (down previously from $90.00) on shares of NextEra Energy in a report on Wednesday, December 10th. TD Cowen started coverage on NextEra Energy in a research note on Thursday, October 16th. They issued a “buy” rating and a $98.00 target price for the company. Citigroup reaffirmed a “buy” rating and set a $96.00 price target (up from $84.00) on shares of NextEra Energy in a research note on Wednesday, October 29th. Argus set a $90.00 price target on NextEra Energy in a report on Wednesday, October 29th. Finally, Morgan Stanley reduced their price objective on NextEra Energy from $98.00 to $97.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

NextEra Energy Trading Up 1.5%

Shares of NEE stock opened at $85.09 on Tuesday. NextEra Energy has a fifty-two week low of $61.72 and a fifty-two week high of $87.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. The stock has a 50 day simple moving average of $82.23 and a two-hundred day simple moving average of $78.49. The company has a market cap of $177.21 billion, a P/E ratio of 27.10, a PEG ratio of 2.60 and a beta of 0.74.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. Research analysts forecast that NextEra Energy will post 3.68 earnings per share for the current year.

Insider Activity

In related news, CEO Armando Pimentel, Jr. sold 145,140 shares of NextEra Energy stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $83.91, for a total transaction of $12,178,697.40. Following the transaction, the chief executive officer owned 162,693 shares of the company’s stock, valued at $13,651,569.63. The trade was a 47.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextEra Energy

Large investors have recently bought and sold shares of the stock. Sax Wealth Advisors LLC lifted its position in shares of NextEra Energy by 0.6% during the third quarter. Sax Wealth Advisors LLC now owns 19,380 shares of the utilities provider’s stock valued at $1,463,000 after purchasing an additional 118 shares in the last quarter. apricus wealth LLC grew its position in NextEra Energy by 3.8% in the 3rd quarter. apricus wealth LLC now owns 3,272 shares of the utilities provider’s stock worth $247,000 after purchasing an additional 120 shares in the last quarter. Isthmus Partners LLC increased its stake in NextEra Energy by 1.9% in the 3rd quarter. Isthmus Partners LLC now owns 6,590 shares of the utilities provider’s stock valued at $497,000 after buying an additional 120 shares during the last quarter. Fingerlakes Wealth Management Inc. lifted its position in shares of NextEra Energy by 0.8% during the 3rd quarter. Fingerlakes Wealth Management Inc. now owns 16,215 shares of the utilities provider’s stock worth $1,224,000 after buying an additional 124 shares in the last quarter. Finally, Heritage Wealth Management Inc. lifted its position in shares of NextEra Energy by 1.0% during the 3rd quarter. Heritage Wealth Management Inc. now owns 12,320 shares of the utilities provider’s stock worth $930,000 after buying an additional 125 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.