NextEra Energy (NYSE:NEE) Given New $92.00 Price Target at Guggenheim

NextEra Energy (NYSE:NEE) had its price objective upped by Guggenheim from $90.00 to $92.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

NEE has been the topic of several other reports. Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Bank of America increased their target price on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Morgan Stanley increased their target price on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Barclays upped their price target on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada cut shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.38.

NextEra Energy Stock Down 0.2 %

Shares of NYSE NEE traded down $0.14 during mid-day trading on Thursday, reaching $82.67. The company had a trading volume of 1,328,488 shares, compared to its average volume of 10,708,129. NextEra Energy has a twelve month low of $53.81 and a twelve month high of $86.10. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. The stock has a market capitalization of $169.85 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The stock’s 50 day moving average is $82.19 and its 200-day moving average is $75.96.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same period in the prior year, the business posted $0.94 earnings per share. NextEra Energy’s revenue for the quarter was up 5.5% 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 fiscal year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is presently 56.13%.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the transaction, the executive vice president now owns 100 shares in the company, valued at $7,697. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Institutional Trading of NextEra Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new stake in NextEra Energy during the 1st quarter worth $303,065,000. International Assets Investment Management LLC boosted its position in shares of NextEra Energy by 8,641.5% during the third quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock worth $326,388,000 after purchasing an additional 3,817,037 shares in the last quarter. Zimmer Partners LP boosted its position in shares of NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after purchasing an additional 2,703,200 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of NextEra Energy by 4,058.2% during the third quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after purchasing an additional 2,309,876 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in shares of 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 purchasing an additional 2,250,500 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.