NextEra Energy Inc. (NEE) Rating Reiterated by Bank of America Corp.
NextEra Energy Inc. (NYSE:NEE)‘s stock had its “buy” rating reaffirmed by equities researchers at Bank of America Corp. in a research note issued to investors on Tuesday. They currently have a $149.00 price objective on the stock.
Several other brokerages have also recently issued reports on NEE. Argus reaffirmed a “buy” rating and issued a $134.00 target price (up from $128.00) on shares of NextEra Energy in a report on Tuesday, June 7th. Zacks Investment Research cut NextEra Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. KeyCorp reissued an “outperform” rating and set a $134.00 price objective (up from $126.00) on shares of NextEra Energy in a research note on Tuesday, July 5th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating on shares of NextEra Energy in a research note on Wednesday, June 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $135.00 price objective on shares of NextEra Energy in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. NextEra Energy currently has an average rating of “Buy” and an average target price of C$129.26.
NextEra Energy (NYSE:NEE) opened at 126.48 on Tuesday. The company has a market cap of $58.43 billion, a price-to-earnings ratio of 22.63 and a beta of 0.33. NextEra Energy has a 12 month low of $95.84 and a 12 month high of $131.98. The stock has a 50 day moving average price of $124.49 and a 200 day moving average price of $122.55.
NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 27th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. NextEra Energy had a return on equity of 11.82% and a net margin of 15.36%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. Analysts anticipate that NextEra Energy will post $6.20 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, August 26th. This represents a $3.48 dividend on an annualized basis and a yield of 2.75%. NextEra Energy’s dividend payout ratio is currently 62.59%.
In other NextEra Energy news, VP Chris N. Froggatt sold 16,467 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of C$127.61, for a total transaction of C$2,101,353.87. Following the completion of the sale, the vice president now owns 22,916 shares in the company, valued at C$2,924,310.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Global X Management Co. LLC raised its stake in NextEra Energy by 242.3% in the second quarter. Global X Management Co. LLC now owns 818 shares of the company’s stock worth $107,000 after buying an additional 579 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in NextEra Energy by 378.8% in the second quarter. Riggs Asset Managment Co. Inc. now owns 948 shares of the company’s stock worth $124,000 after buying an additional 750 shares in the last quarter. Blue Chip Partners Inc. bought a new stake in NextEra Energy during the second quarter worth $140,000. Jackson Grant Investment Advisers Inc. raised its stake in NextEra Energy by 7.0% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,080 shares of the company’s stock worth $141,000 after buying an additional 71 shares in the last quarter. Finally, Cribstone Capital Management LLC bought a new stake in NextEra Energy during the second quarter worth $149,000. Institutional investors own 74.51% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power company in North America with electric generating facilities located in over 30 states in the United States and approximately five provinces in Canada. NEE’s operating segments are FPL, an electric utility, and NEER, an energy business.
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