NextEra Energy (NYSE:NEE) Given New $68.00 Price Target at BMO Capital Markets

NextEra Energy (NYSE:NEE) had its price target decreased by BMO Capital Markets from $77.00 to $68.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 10.17% from the company’s current price.

NEE has been the subject of several other reports. Mizuho reaffirmed a “buy” rating and issued a $67.00 target price (up from $65.00) on shares of NextEra Energy in a research report on Friday, March 15th. Wells Fargo & Company raised their target price on NextEra Energy from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a research note on Tuesday, January 30th. StockNews.com lowered NextEra Energy from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. Finally, Guggenheim upped their price target on NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and an average price target of $71.36.

NextEra Energy Trading Down 1.6 %

Shares of NEE traded down $1.03 during mid-day trading on Tuesday, reaching $61.72. The company’s stock had a trading volume of 2,129,590 shares, compared to its average volume of 11,687,587. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. The stock has a market cap of $126.68 billion, a PE ratio of 17.10, a P/E/G ratio of 2.27 and a beta of 0.51. The company’s fifty day moving average price is $59.32 and its two-hundred day moving average price is $58.32. NextEra Energy has a 52 week low of $47.15 and a 52 week high of $79.78.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $5.72 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy

Hedge funds have recently modified their holdings of the company. Avitas Wealth Management LLC grew its holdings in NextEra Energy by 2.9% during the 4th quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after buying an additional 1,057 shares in the last quarter. Stiles Financial Services Inc increased its holdings in NextEra Energy by 9.0% in the 4th quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock valued at $2,137,000 after acquiring an additional 2,899 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of NextEra Energy by 1.7% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after purchasing an additional 6,325 shares during the last quarter. Asio Capital LLC purchased a new stake in shares of NextEra Energy in the fourth quarter worth about $2,701,000. Finally, Robertson Stephens Wealth Management LLC raised its holdings in shares of NextEra Energy by 7.3% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 17,714 shares of the utilities provider’s stock worth $1,015,000 after acquiring an additional 1,211 shares in the last quarter. 78.72% of the stock is currently owned by 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.