NextEra Energy (NYSE:NEE) PT Raised to $310.00

NextEra Energy (NYSE:NEE) had its price target raised by research analysts at Argus from $295.00 to $310.00 in a research note issued on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Argus’ price objective indicates a potential upside of 10.54% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research firms also recently issued reports on NEE. Morgan Stanley upped their price objective on shares of NextEra Energy from $240.00 to $246.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Vertical Research raised shares of NextEra Energy from a “sell” rating to a “hold” rating and set a $265.00 price objective for the company in a report on Monday, July 27th. Credit Suisse Group upped their price objective on shares of NextEra Energy from $252.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, UBS Group decreased their price objective on shares of NextEra Energy from $296.00 to $290.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. NextEra Energy currently has an average rating of “Buy” and an average target price of $261.47.

NEE traded down $3.97 on Wednesday, reaching $280.43. 31,095 shares of the company traded hands, compared to its average volume of 2,645,637. The stock’s 50 day moving average price is $265.90 and its 200-day moving average price is $250.74. NextEra Energy has a 52-week low of $174.80 and a 52-week high of $289.41. The company has a market cap of $136.51 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 3.96 and a beta of 0.26. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.61 and a quick ratio of 0.50.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Friday, July 24th. The utilities provider reported $2.61 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.11. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $5.32 billion. NextEra Energy had a net margin of 18.71% and a return on equity of 10.55%. The firm’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.35 earnings per share. As a group, equities research analysts forecast that NextEra Energy will post 9.12 earnings per share for the current fiscal year.

In other news, Treasurer Paul I. Cutler sold 8,772 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $285.00, for a total value of $2,500,020.00. Following the completion of the transaction, the treasurer now owns 86,839 shares in the company, valued at approximately $24,749,115. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Eric E. Silagy sold 7,389 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $236.13, for a total transaction of $1,744,764.57. Following the completion of the transaction, the chief executive officer now owns 42,556 shares of the company’s stock, valued at approximately $10,048,748.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,082 shares of company stock valued at $9,968,924. Corporate insiders own 0.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Insight Wealth Strategies LLC grew its holdings in shares of NextEra Energy by 1.6% in the 2nd quarter. Insight Wealth Strategies LLC now owns 2,255 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 36 shares during the last quarter. Cedar Brook Financial Partners LLC grew its holdings in shares of NextEra Energy by 2.2% in the 2nd quarter. Cedar Brook Financial Partners LLC now owns 1,730 shares of the utilities provider’s stock worth $415,000 after purchasing an additional 38 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of NextEra Energy by 0.5% in the 2nd quarter. Evermay Wealth Management LLC now owns 7,397 shares of the utilities provider’s stock worth $1,777,000 after purchasing an additional 40 shares during the last quarter. Lakeview Capital Partners LLC grew its holdings in shares of NextEra Energy by 1.3% in the 2nd quarter. Lakeview Capital Partners LLC now owns 3,122 shares of the utilities provider’s stock worth $750,000 after purchasing an additional 40 shares during the last quarter. Finally, Frontier Investment Mgmt Co. grew its holdings in shares of NextEra Energy by 1.6% in the 2nd quarter. Frontier Investment Mgmt Co. now owns 2,512 shares of the utilities provider’s stock worth $603,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 77.00% 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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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