NextEra Energy (NYSE:NEE) Price Target Raised to $91.00

NextEra Energy (NYSE:NEE) had its target price raised by BMO Capital Markets from $83.00 to $91.00 in a research report report published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective on the stock. Morgan Stanley raised their price objective on NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Barclays upped their target price on NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 1st. Citigroup raised their price target on NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Bank of America upped their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.46.

NextEra Energy Stock Down 0.4 %

Shares of NEE stock opened at $84.03 on Friday. NextEra Energy has a 12-month low of $50.95 and a 12-month high of $86.10. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average of $81.94 and a 200-day moving average of $75.76. The company has a market capitalization of $172.64 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.92 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $7.29 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, equities research analysts predict 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. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.45%. NextEra Energy’s dividend payout ratio is presently 56.13%.

Insider Buying and Selling

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly 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 legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after purchasing an additional 143,748 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NextEra Energy by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock valued at $579,097,000 after buying an additional 691,341 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of NextEra Energy by 22.3% in the first quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock valued at $443,834,000 after buying an additional 1,268,900 shares during the period. Raymond James & Associates boosted its stake in shares of NextEra Energy by 14.3% in the third quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock valued at $575,573,000 after buying an additional 851,873 shares during the period. Finally, Principal Financial Group Inc. grew its position in NextEra Energy by 7.2% during the second quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after buying an additional 409,708 shares in the last quarter. Institutional investors own 78.72% of the company’s stock.

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,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.