NextEra Energy (NYSE:NEE – Get Rating) had its target price hoisted by investment analysts at Morgan Stanley to $102.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. Morgan Stanley’s price target would suggest a potential upside of 24.74% from the stock’s previous close.
Several other equities analysts also recently weighed in on the stock. TheStreet upgraded shares of NextEra Energy from a “c+” rating to a “b” rating in a report on Friday, July 22nd. BMO Capital Markets raised their price target on shares of NextEra Energy from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, September 16th. Credit Suisse Group raised their price target on shares of NextEra Energy from $79.00 to $98.00 in a research note on Wednesday, September 14th. Guggenheim raised their price target on shares of NextEra Energy from $91.00 to $108.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Finally, Wells Fargo & Company raised their price target on shares of NextEra Energy from $107.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.70.
NextEra Energy Trading Down 1.3 %
Shares of NextEra Energy stock traded down $1.05 on Wednesday, reaching $81.77. The company had a trading volume of 5,462,877 shares, compared to its average volume of 9,518,013. NextEra Energy has a 52-week low of $67.22 and a 52-week high of $93.73. The firm’s 50 day moving average price is $86.48 and its two-hundred day moving average price is $80.74. The firm has a market cap of $160.66 billion, a PE ratio of 62.42, a PEG ratio of 2.91 and a beta of 0.50. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.47 and a current ratio of 0.53.
NextEra Energy (NYSE:NEE – Get Rating) last issued its earnings results on Friday, July 22nd. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.26 billion. NextEra Energy had a net margin of 14.75% and a return on equity of 11.97%. The company’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. Sell-side analysts predict that NextEra Energy will post 2.89 earnings per share for the current fiscal year.
Insider Buying and Selling at NextEra Energy
In other NextEra Energy news, EVP Ronald R. Reagan sold 9,307 shares of NextEra Energy stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $88.79, for a total transaction of $826,368.53. Following the transaction, the executive vice president now directly owns 18,176 shares of the company’s stock, valued at $1,613,847.04. The sale was disclosed in a filing with the SEC, which is available at this link. 0.43% of the stock is currently owned by corporate insiders.
Institutional Trading of NextEra Energy
Hedge funds have recently made changes to their positions in the company. Hoey Investments Inc. purchased a new stake in shares of NextEra Energy during the second quarter valued at approximately $26,000. Urban Wealth Management LLC bought a new stake in NextEra Energy in the second quarter worth about $28,000. Contravisory Investment Management Inc. raised its holdings in NextEra Energy by 295.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock worth $29,000 after buying an additional 260 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of NextEra Energy by 70.8% in the 2nd quarter. SRS Capital Advisors Inc. now owns 386 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 160 shares during the period. Finally, Evolution Advisers Inc. bought a new stake in shares of NextEra Energy in the 1st quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.89% of the company’s stock.
About NextEra Energy
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.