NextEra Energy (NEE) Given New $174.00 Price Target at Morgan Stanley

NextEra Energy (NYSE:NEE) had its price target increased by equities research analysts at Morgan Stanley from $168.00 to $174.00 in a research report issued on Monday. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 8.60% from the stock’s current price.

Several other research firms also recently commented on NEE. Zacks Investment Research downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating and set a $182.00 price objective on the stock. in a report on Wednesday, April 11th. UBS started coverage on shares of NextEra Energy in a report on Friday, February 2nd. They issued a “buy” rating and a $177.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $182.00 price objective on shares of NextEra Energy in a report on Friday, January 26th. ValuEngine upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase upped their price objective on shares of NextEra Energy from $167.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, April 10th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. NextEra Energy has an average rating of “Buy” and an average target price of $166.57.

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Shares of NEE opened at $160.22 on Monday. The firm has a market cap of $75,430.61, a P/E ratio of 23.91, a PEG ratio of 2.54 and a beta of 0.23. NextEra Energy has a 1-year low of $129.22 and a 1-year high of $164.71. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.52 and a current ratio of 0.64.

NextEra Energy (NYSE:NEE) last issued its earnings results on Friday, January 26th. The utilities provider reported $1.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.06). The firm had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.18 billion. NextEra Energy had a return on equity of 11.50% and a net margin of 31.28%. NextEra Energy’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.21 earnings per share. analysts predict that NextEra Energy will post 7.72 earnings per share for the current year.

In related news, CEO Armando Pimentel, Jr. sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $151.83, for a total value of $1,404,427.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James L. Robo sold 18,000 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $160.89, for a total transaction of $2,896,020.00. The disclosure for this sale can be found here. Insiders sold 62,245 shares of company stock worth $9,783,623 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in NextEra Energy by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 4,869,190 shares of the utilities provider’s stock worth $758,889,000 after purchasing an additional 73,790 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in NextEra Energy by 6.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,968,016 shares of the utilities provider’s stock worth $619,764,000 after purchasing an additional 243,649 shares during the period. Bank of New York Mellon Corp lifted its position in NextEra Energy by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 3,907,505 shares of the utilities provider’s stock worth $610,314,000 after purchasing an additional 41,226 shares during the period. Alliancebernstein L.P. lifted its position in NextEra Energy by 1.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,664,040 shares of the utilities provider’s stock worth $416,096,000 after purchasing an additional 26,147 shares during the period. Finally, Eaton Vance Management lifted its position in NextEra Energy by 3.6% during the fourth quarter. Eaton Vance Management now owns 2,222,593 shares of the utilities provider’s stock worth $347,147,000 after purchasing an additional 77,806 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.

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About NextEra Energy

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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

Analyst Recommendations for NextEra Energy (NYSE:NEE)

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