Bank of America Increases NextEra Energy (NYSE:NEE) Price Target to $67.00

NextEra Energy (NYSE:NEE) had its price objective increased by equities researchers at Bank of America from $61.00 to $67.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. Bank of America‘s price objective suggests a potential upside of 0.66% from the company’s previous close.

Several other brokerages also recently issued reports on NEE. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 target price on shares of NextEra Energy in a research note on Tuesday, January 30th. Barclays began coverage on shares of NextEra Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of NextEra Energy from $77.00 to $68.00 and set an “outperform” rating for the company in a report on Tuesday, April 16th. Mizuho reissued a “buy” rating and set a $67.00 price objective (up from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. Finally, Guggenheim upped their target price on shares of NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, NextEra Energy has a consensus rating of “Moderate Buy” and an average target price of $71.21.

NextEra Energy Trading Up 0.5 %

NYSE:NEE opened at $66.56 on Tuesday. NextEra Energy has a one year low of $47.15 and a one year high of $79.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.55 and a quick ratio of 0.47. The company’s 50-day simple moving average is $60.47 and its 200 day simple moving average is $58.89. The firm has a market capitalization of $136.61 billion, a P/E ratio of 18.44, a PEG ratio of 2.35 and a beta of 0.51.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm posted $0.84 earnings per share. NextEra Energy’s quarterly revenue was down 14.7% on a year-over-year basis. As a group, analysts forecast that NextEra Energy will post 3.4 EPS for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEE. Norges Bank acquired a new stake in NextEra Energy during the 4th quarter worth $2,561,055,000. Mizuho Markets Americas LLC acquired a new stake in NextEra Energy during the 3rd quarter worth $141,817,000. State of Michigan Retirement System boosted its stake in NextEra Energy by 400.7% during the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after purchasing an additional 2,250,500 shares during the last quarter. Nordea Investment Management AB boosted its stake in NextEra Energy by 59.1% during the 3rd quarter. Nordea Investment Management AB now owns 5,784,080 shares of the utilities provider’s stock worth $337,096,000 after purchasing an additional 2,148,205 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in NextEra Energy by 7,999.6% during the 4th quarter. International Assets Investment Management LLC now owns 2,173,459 shares of the utilities provider’s stock worth $132,016,000 after purchasing an additional 2,146,625 shares during 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.