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

NextEra Energy (NYSE:NEE) had its price objective lifted by investment analysts at Bank of America from $61.00 to $67.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently 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 stock’s previous close.

Other analysts have also recently issued research reports about the company. Mizuho reiterated a “buy” rating and set a $67.00 target price (up previously from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. Morgan Stanley boosted their target price on NextEra Energy from $77.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a report on Monday. Guggenheim boosted their target price on NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $71.21.

NextEra Energy Stock Up 0.5 %

NEE opened at $66.56 on Tuesday. 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 stock has a market capitalization of $136.61 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. The business has a 50-day moving average of $60.47 and a two-hundred day moving average of $58.89. NextEra Energy has a 12 month low of $47.15 and a 12 month high of $79.10.

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

Institutional Investors Weigh In On NextEra Energy

Several hedge funds have recently modified their holdings of NEE. Vanguard Group Inc. lifted its stake in NextEra Energy by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock worth $11,368,065,000 after acquiring an additional 1,956,153 shares in the last quarter. Norges Bank purchased a new stake in NextEra Energy in the 4th quarter worth about $2,561,055,000. Northern Trust Corp lifted its stake in NextEra Energy by 2.0% in the 3rd quarter. Northern Trust Corp now owns 22,982,250 shares of the utilities provider’s stock worth $1,316,653,000 after acquiring an additional 455,271 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NextEra Energy by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,782,674 shares of the utilities provider’s stock worth $654,940,000 after acquiring an additional 429,979 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in NextEra Energy by 2.4% in the 3rd quarter. California Public Employees Retirement System now owns 9,026,464 shares of the utilities provider’s stock worth $517,126,000 after acquiring an additional 209,584 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

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.