NextEra Energy (NYSE:NEE) Given a $240.00 Price Target at Wells Fargo & Co

Wells Fargo & Co set a $240.00 price objective on NextEra Energy (NYSE:NEE) in a research report released on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Other analysts have also issued research reports about the company. Scotiabank raised NextEra Energy from a sector perform rating to an outperform rating and raised their target price for the company from $187.00 to $202.00 in a report on Wednesday, May 8th. Credit Suisse Group raised their target price on NextEra Energy from $231.00 to $232.00 and gave the company an outperform rating in a report on Friday, July 26th. UBS Group raised their target price on NextEra Energy from $240.00 to $250.00 and gave the company a buy rating in a report on Friday. Barclays lowered NextEra Energy from an overweight rating to an equal weight rating and set a $218.00 target price on the stock. in a report on Tuesday, August 13th. Finally, KeyCorp began coverage on NextEra Energy in a report on Tuesday, June 4th. They issued an overweight rating and a $225.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $217.77.

Shares of NYSE NEE traded up $0.33 during mid-day trading on Tuesday, reaching $220.14. 2,282,522 shares of the company traded hands, compared to its average volume of 1,993,754. The stock has a market cap of $107.38 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.19. The company’s fifty day moving average is $215.53 and its two-hundred day moving average is $201.20. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.42 and a current ratio of 0.52. NextEra Energy has a fifty-two week low of $164.25 and a fifty-two week high of $225.96.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $2.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.07. The firm had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.68 billion. NextEra Energy had a return on equity of 10.46% and a net margin of 18.73%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Research analysts forecast that NextEra Energy will post 8.36 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 29th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Wednesday, August 28th. NextEra Energy’s payout ratio is presently 64.94%.

In other news, Director Rudy E. Schupp sold 1,600 shares of NextEra Energy stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $202.90, for a total transaction of $324,640.00. Following the sale, the director now owns 18,315 shares of the company’s stock, valued at approximately $3,716,113.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles E. Sieving sold 4,987 shares of NextEra Energy stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $222.52, for a total value of $1,109,707.24. Following the sale, the executive vice president now directly owns 46,467 shares in the company, valued at approximately $10,339,836.84. The disclosure for this sale can be found here. Insiders have sold a total of 95,615 shares of company stock worth $20,659,838 in the last three months. 0.48% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of NextEra Energy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 43,282,619 shares of the utilities provider’s stock worth $8,866,878,000 after buying an additional 573,923 shares during the period. Northern Trust Corp lifted its position in shares of NextEra Energy by 1.6% during the 1st quarter. Northern Trust Corp now owns 6,786,481 shares of the utilities provider’s stock worth $1,311,963,000 after buying an additional 107,426 shares during the period. Bank of New York Mellon Corp lifted its position in shares of NextEra Energy by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,949,645 shares of the utilities provider’s stock worth $1,013,984,000 after buying an additional 155,904 shares during the period. California Public Employees Retirement System lifted its position in shares of NextEra Energy by 19.1% during the 2nd quarter. California Public Employees Retirement System now owns 3,437,222 shares of the utilities provider’s stock worth $704,149,000 after buying an additional 550,956 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its position in shares of NextEra Energy by 41.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,524,371 shares of the utilities provider’s stock worth $517,143,000 after buying an additional 740,059 shares during the period. 76.24% of the stock is currently owned by institutional investors.

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.

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