NextEra Energy (NYSE:NEE) PT Raised to $67.00

NextEra Energy (NYSE:NEE) had its price target raised by Bank of America from $61.00 to $67.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.

A number of other equities research analysts have also recently weighed in on NEE. Morgan Stanley lifted their price objective on shares of NextEra Energy from $77.00 to $79.00 and gave the company an overweight rating in a research note on Monday. Wells Fargo & Company lifted their price objective on shares of NextEra Energy from $84.00 to $85.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Scotiabank lifted their price objective on shares of NextEra Energy from $69.00 to $73.00 and gave the company a sector outperform rating in a research note on Monday. StockNews.com upgraded shares of NextEra Energy from a sell rating to a hold rating in a research note on Monday. Finally, Royal Bank of Canada restated an outperform rating and set a $74.00 price objective on shares of NextEra Energy in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $71.50.

NextEra Energy Stock Performance

Shares of NEE opened at $66.90 on Tuesday. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $78.53. The company has a market cap of $137.45 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.51. The firm has a fifty day moving average of $60.67 and a 200-day moving average of $58.94.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 14.7% compared to the same quarter last year. As a group, equities analysts anticipate that NextEra Energy will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 annualized dividend and a yield of 3.08%. NextEra Energy’s payout ratio is 56.13%.

Hedge Funds Weigh In On NextEra Energy

Institutional investors have recently bought and sold shares of the stock. Avitas Wealth Management LLC increased its stake in NextEra Energy by 2.9% in the 4th quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock worth $2,299,000 after purchasing an additional 1,057 shares in the last quarter. Stiles Financial Services Inc increased its stake in NextEra Energy by 9.0% in the 4th quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock worth $2,137,000 after purchasing an additional 2,899 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in NextEra Energy by 1.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after purchasing an additional 6,325 shares in the last quarter. Asio Capital LLC purchased a new position in NextEra Energy in the 4th quarter worth about $2,701,000. Finally, Robertson Stephens Wealth Management LLC increased its stake in NextEra Energy by 7.3% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock worth $1,015,000 after purchasing an additional 1,211 shares in the last quarter. Hedge funds and other institutional investors 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.