NextEra Energy’s (NEE) Buy Rating Reaffirmed at KeyCorp
Several other research firms have also recently commented on NEE. Morgan Stanley upped their target price on shares of NextEra Energy from $167.00 to $169.00 and gave the stock an overweight rating in a research report on Friday, September 8th. BMO Capital Markets restated a buy rating and issued a $156.00 target price (up previously from $144.00) on shares of NextEra Energy in a research report on Friday, June 23rd. BidaskClub cut shares of NextEra Energy from a buy rating to a hold rating in a research report on Thursday, July 6th. J P Morgan Chase & Co started coverage on shares of NextEra Energy in a research report on Thursday, September 7th. They issued an overweight rating and a $173.00 target price for the company. Finally, Zacks Investment Research cut shares of NextEra Energy from a buy rating to a hold rating in a research report on Tuesday, August 22nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. NextEra Energy currently has a consensus rating of Buy and a consensus target price of $153.75.
Shares of NextEra Energy (NYSE:NEE) traded down 0.10% during midday trading on Thursday, reaching $150.55. 1,115,345 shares of the company were exchanged. NextEra Energy has a 52-week low of $110.49 and a 52-week high of $152.27. The stock has a market capitalization of $70.64 billion, a price-to-earnings ratio of 17.24 and a beta of 0.31. The company’s 50-day moving average price is $148.64 and its 200 day moving average price is $141.63.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.10. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts predict that NextEra Energy will post $6.74 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 24th will be paid a $0.9825 dividend. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.61%. NextEra Energy’s dividend payout ratio is currently 45.02%.
In other news, EVP Charles E. Sieving sold 30,485 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $146.56, for a total value of $4,467,881.60. Following the completion of the sale, the executive vice president now directly owns 78,167 shares of the company’s stock, valued at approximately $11,456,155.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total transaction of $4,411,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,385 shares of company stock valued at $9,614,382. Company insiders own 0.53% of the company’s stock.
Large investors have recently modified their holdings of the company. Hanson McClain Inc. lifted its stake in shares of NextEra Energy by 6.0% in the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 43 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of NextEra Energy by 8.9% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after acquiring an additional 71 shares during the period. Highstreet Asset Management Inc. acquired a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $134,000. Atlantic Trust LLC acquired a new stake in shares of NextEra Energy in the 2nd quarter worth approximately $154,000. Finally, Pacific Center for Financial Services lifted its stake in shares of NextEra Energy by 50.1% in the 2nd quarter. Pacific Center for Financial Services now owns 1,139 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 380 shares during the period. 75.41% of the stock is owned by institutional investors.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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