NextEra Energy, Inc. (NEE) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of NextEra Energy, Inc. (NYSE:NEE) from a hold rating to a buy rating in a report published on Tuesday morning. The firm currently has $165.00 price objective on the utilities provider’s stock.

According to Zacks, “Shares of NextEra Energy have outperformed the industry’s rally in the last 12 months. NextEra Energy is benefiting from favorable economic conditions in its service territories, thus creating demand for utility services. The company is expected to benefit from increasing customer accounts and rising demand for power in Florida. The company’s focus on clean energy has lowered emission levels and saved on energy bills for its customers. The natural gas pipelines, which came online in second quarter, are expected to boost its performance. On the flip side, the company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Delay in completion of ongoing projects could also impact profitability.”

A number of other analysts have also weighed in on NEE. BidaskClub upgraded NextEra Energy from a hold rating to a buy rating in a research note on Tuesday, August 8th. Morgan Stanley raised their target price on NextEra Energy from $163.00 to $167.00 and gave the company an overweight rating in a research note on Thursday, August 10th. Royal Bank Of Canada restated an outperform rating and issued a $147.00 target price (up from $144.00) on shares of NextEra Energy in a research note on Sunday, July 9th. Wells Fargo & Company restated an outperform rating and issued a $158.00 target price (up from $150.00) on shares of NextEra Energy in a research note on Monday, June 19th. Finally, BMO Capital Markets restated a buy rating and issued a $156.00 target price (up from $144.00) on shares of NextEra Energy in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $153.75.

NextEra Energy (NYSE:NEE) last announced its earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period last year, the company posted $1.67 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year.

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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were paid a $0.9825 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $3.93 annualized dividend and a dividend yield of 2.61%. NextEra Energy’s payout ratio is 45.02%.

In other news, EVP Joseph T. Kelliher sold 2,000 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $150.00, for a total value of $300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles E. Sieving sold 30,485 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.56, for a total value of $4,467,881.60. Following the completion of the sale, the executive vice president now directly owns 78,167 shares of the company’s stock, valued at approximately $11,456,155.52. The disclosure for this sale can be found here. In the last three months, insiders sold 65,385 shares of company stock valued at $9,614,382. Insiders own 0.53% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Fox Run Management L.L.C. acquired a new stake in shares of NextEra Energy in the second quarter valued at about $1,289,000. Salem Investment Counselors Inc. increased its stake in shares of NextEra Energy by 12.7% in the first quarter. Salem Investment Counselors Inc. now owns 9,001 shares of the utilities provider’s stock valued at $1,154,000 after buying an additional 1,012 shares during the period. NGAM Advisors L.P. increased its stake in shares of NextEra Energy by 8.9% in the second quarter. NGAM Advisors L.P. now owns 63,026 shares of the utilities provider’s stock valued at $8,832,000 after buying an additional 5,175 shares during the period. Capital One National Association increased its stake in shares of NextEra Energy by 30.9% in the second quarter. Capital One National Association now owns 21,617 shares of the utilities provider’s stock valued at $3,030,000 after buying an additional 5,099 shares during the period. Finally, Wade G W & Inc. increased its stake in shares of NextEra Energy by 1.2% in the first quarter. Wade G W & Inc. now owns 10,628 shares of the utilities provider’s stock valued at $1,364,000 after buying an additional 130 shares during the period. 75.41% of the stock is owned by institutional investors.

NextEra Energy Company Profile

NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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