NextEra Energy (NYSE:NEE) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says
by Scott Moore · The Cerbat GemNextEra Energy (NYSE:NEE – Get Free Report) had its target price raised by analysts at Wells Fargo & Company from $98.00 to $99.00 in a report released on Monday,MarketScreener reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 7.06% from the company’s previous close.
A number of other brokerages also recently commented on NEE. Wall Street Zen downgraded shares of NextEra Energy from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings downgraded shares of NextEra Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. BTIG Research reissued a “buy” rating and issued a $103.00 target price on shares of NextEra Energy in a report on Wednesday, January 28th. UBS Group lifted their price target on NextEra Energy from $91.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, BMO Capital Markets set a $95.00 price objective on NextEra Energy in a report on Thursday, January 29th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, NextEra Energy has a consensus rating of “Moderate Buy” and an average price target of $95.39.
Read Our Latest Analysis on NEE
NextEra Energy Stock Performance
Shares of NEE opened at $92.47 on Monday. NextEra Energy has a 1 year low of $63.64 and a 1 year high of $96.21. The stock has a market capitalization of $192.83 billion, a PE ratio of 28.00, a PEG ratio of 2.70 and a beta of 0.74. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.49 and a current ratio of 0.60. The stock has a 50-day simple moving average of $92.30 and a 200-day simple moving average of $86.45.
NextEra Energy (NYSE:NEE – Get Free Report) last released its earnings results on Tuesday, January 27th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $7.07 billion. NextEra Energy had a net margin of 24.93% and a return on equity of 12.18%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. On average, analysts predict that NextEra Energy will post 3.68 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, EVP Charles E. Sieving sold 30,000 shares of NextEra Energy stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $90.00, for a total value of $2,700,000.00. Following the transaction, the executive vice president directly owned 167,481 shares of the company’s stock, valued at $15,073,290. The trade was a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Terrell Kirk Crews II sold 19,672 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $90.27, for a total transaction of $1,775,791.44. Following the completion of the sale, the executive vice president owned 73,857 shares of the company’s stock, valued at approximately $6,667,071.39. This trade represents a 21.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 190,816 shares of company stock valued at $17,075,619 in the last 90 days. Company insiders own 0.18% of the company’s stock.
Hedge Funds Weigh In On NextEra Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in NEE. Wedbush Securities Inc. raised its position in NextEra Energy by 24.8% in the third quarter. Wedbush Securities Inc. now owns 64,158 shares of the utilities provider’s stock worth $4,843,000 after acquiring an additional 12,738 shares in the last quarter. Varma Mutual Pension Insurance Co boosted its position in shares of NextEra Energy by 5.0% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 326,193 shares of the utilities provider’s stock worth $24,624,000 after buying an additional 15,600 shares in the last quarter. National Pension Service boosted its position in shares of NextEra Energy by 1.3% in the 3rd quarter. National Pension Service now owns 4,845,447 shares of the utilities provider’s stock worth $365,783,000 after buying an additional 60,324 shares in the last quarter. Synergy Asset Management LLC increased its holdings in NextEra Energy by 286.0% during the 3rd quarter. Synergy Asset Management LLC now owns 22,028 shares of the utilities provider’s stock valued at $1,594,000 after acquiring an additional 16,322 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in NextEra Energy by 61.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 60,985 shares of the utilities provider’s stock worth $4,604,000 after acquiring an additional 23,288 shares during the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.
NextEra Energy Company Profile
NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.
NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.