NextEra Energy (NYSE:NEE – Get Free Report) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $65.00 to $67.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 15.34% from the company’s current price.
Other analysts also recently issued reports about the stock. Royal Bank of Canada lowered their price target on shares of NextEra Energy from $90.00 to $89.00 and set an “outperform” rating on the stock in a report on Wednesday, September 6th. Morgan Stanley reduced their price objective on shares of NextEra Energy from $79.00 to $76.00 and set an “overweight” rating for the company in a research report on Tuesday, November 21st. Wells Fargo & Company reduced their price objective on shares of NextEra Energy from $105.00 to $84.00 in a research report on Monday, October 2nd. BMO Capital Markets reduced their price objective on shares of NextEra Energy from $88.00 to $72.00 and set an “outperform” rating for the company in a research report on Thursday, September 28th. Finally, Evercore ISI reduced their price objective on shares of NextEra Energy from $80.00 to $66.00 and set an “in-line” rating for the company in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.08.
NextEra Energy Stock Performance
NYSE NEE traded down $0.07 during mid-day trading on Wednesday, reaching $58.09. 11,839,577 shares of the stock were exchanged, compared to its average volume of 10,015,065. The business’s 50 day moving average is $56.68 and its 200-day moving average is $66.40. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $88.61. The company has a market capitalization of $119.18 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.26 and a beta of 0.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.43 and a current ratio of 0.50.
NextEra Energy (NYSE:NEE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. NextEra Energy had a net margin of 27.82% and a return on equity of 12.15%. The firm had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that NextEra Energy will post 3.12 EPS for the current fiscal year.
Insider Buying and Selling
In other news, major shareholder Nextera Energy Inc acquired 3,097,524 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was purchased at an average cost of $24.21 per share, for a total transaction of $74,991,056.04. Following the completion of the transaction, the insider now owns 4,097,524 shares in the company, valued at $99,201,056.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Sageworth Trust Co boosted its stake in NextEra Energy by 1,794.1% during the first quarter. Sageworth Trust Co now owns 322 shares of the utilities provider’s stock worth $25,000 after buying an additional 305 shares during the period. Alaska Permanent Fund Corp purchased a new position in shares of NextEra Energy in the second quarter valued at approximately $26,000. Magellan Asset Management Ltd purchased a new position in shares of NextEra Energy in the first quarter valued at approximately $32,000. Coppell Advisory Solutions LLC purchased a new position in shares of NextEra Energy in the second quarter valued at approximately $32,000. Finally, Country Trust Bank boosted its stake in shares of NextEra Energy by 975.6% in the third quarter. Country Trust Bank now owns 441 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 76.48% 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.