NextEra Energy (NYSE:NEE) PT Raised to $72.00 at BMO Capital Markets

NextEra Energy (NYSE:NEE) had its price target raised by equities researchers at BMO Capital Markets from $70.00 to $72.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 9.07% from the company’s previous close.

Other analysts have also issued reports about the company. Bank of America raised their price objective on NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley increased their target price on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Mizuho raised their price objective on NextEra Energy from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com upgraded NextEra Energy from a “sell” rating to a “hold” rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.50.

NextEra Energy Stock Performance

NEE opened at $66.01 on Thursday. The firm has a market cap of $135.62 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $78.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.51. The business’s fifty day moving average is $60.85 and its 200-day moving average is $59.06.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. NextEra Energy’s revenue was down 14.7% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Sell-side analysts expect that NextEra Energy will post 3.4 EPS for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy

Hedge funds have recently added to or reduced their stakes in the company. Strategic Blueprint LLC boosted its position in NextEra Energy by 11.7% in the third quarter. Strategic Blueprint LLC now owns 12,504 shares of the utilities provider’s stock worth $716,000 after purchasing an additional 1,308 shares during the last quarter. Hennessy Advisors Inc. boosted its position in NextEra Energy by 163.5% in the third quarter. Hennessy Advisors Inc. now owns 12,570 shares of the utilities provider’s stock worth $720,000 after purchasing an additional 7,800 shares during the last quarter. Oak Thistle LLC boosted its position in NextEra Energy by 322.1% in the third quarter. Oak Thistle LLC now owns 18,264 shares of the utilities provider’s stock worth $1,046,000 after purchasing an additional 13,937 shares during the last quarter. Stewart & Patten Co. LLC boosted its position in NextEra Energy by 4.6% in the third quarter. Stewart & Patten Co. LLC now owns 214,547 shares of the utilities provider’s stock worth $12,291,000 after purchasing an additional 9,519 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of NextEra Energy by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 959,216 shares of the utilities provider’s stock valued at $54,953,000 after buying an additional 2,862 shares during the period. 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.