NextEra Energy (NYSE:NEE) Price Target Increased to $72.00 by Analysts at BMO Capital Markets

NextEra Energy (NYSE:NEE) had its target price hoisted by stock analysts at BMO Capital Markets from $70.00 to $72.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 7.54% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Bank of America boosted their target price on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $74.00 target price on shares of NextEra Energy in a research note on Tuesday, January 30th. Morgan Stanley boosted their price target on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank boosted their price target on NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a report on Monday. Finally, Mizuho boosted their price target on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, NextEra Energy currently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

NextEra Energy Trading Up 0.6 %

Shares of NextEra Energy stock traded up $0.39 during trading on Thursday, reaching $66.95. 5,919,079 shares of the company were exchanged, compared to its average volume of 11,864,898. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. NextEra Energy has a twelve month low of $47.15 and a twelve month high of $78.53. The business has a 50-day moving average price of $60.47 and a 200-day moving average price of $58.89. The firm has a market capitalization of $137.41 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 2.38 and a beta of 0.51.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. Sell-side analysts anticipate that NextEra Energy will post 3.4 EPS for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy

Several institutional investors and hedge funds have recently made changes to their positions in NEE. Norges Bank acquired a new position in shares of NextEra Energy in the fourth quarter valued at approximately $2,561,055,000. Mizuho Markets Americas LLC acquired a new stake in NextEra Energy during the third quarter worth approximately $141,817,000. State of Michigan Retirement System grew its position in NextEra Energy by 400.7% during the first quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after buying an additional 2,250,500 shares in the last quarter. Nordea Investment Management AB grew its position in NextEra Energy by 59.1% during the third quarter. Nordea Investment Management AB now owns 5,784,080 shares of the utilities provider’s stock worth $337,096,000 after buying an additional 2,148,205 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in NextEra Energy by 7,999.6% during the fourth quarter. International Assets Investment Management LLC now owns 2,173,459 shares of the utilities provider’s stock worth $132,016,000 after buying an additional 2,146,625 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Company Profile

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,natural gas, and other clean energy. 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.