NextEra Energy (NEE) Raised to Buy at Zacks Investment Research
NextEra Energy (NYSE:NEE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $169.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.43% from the stock’s previous close.
According to Zacks, “Shares of NextEra Energy have outperformed the industry’s rally in the last 12 months. Investments made by the company to strengthen its infrastructure and ongoing capital projects, when completed, will help it serve its expanding customer base more efficiently. The company’s focus on clean energy has helped it lower emission levels, and use of new technology has saved on energy bills for its customers. The natural gas pipelines, which came online in first half of 2017, are expected to boost its performance. On the flip side, the company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Unpredictable impact of natural disaster could derail normal operation and impact profitability.”
NEE has been the topic of a number of other research reports. Bank of America started coverage on NextEra Energy in a research note on Tuesday, October 24th. They set a “buy” rating and a $166.00 price target on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $156.00 target price on shares of NextEra Energy in a research report on Tuesday, November 7th. Credit Suisse Group initiated coverage on NextEra Energy in a research report on Thursday, December 7th. They issued an “outperform” rating and a $173.00 target price on the stock. KeyCorp reiterated a “buy” rating and issued a $155.00 target price on shares of NextEra Energy in a research report on Thursday, October 12th. Finally, Guggenheim reiterated a “buy” rating and issued a $177.00 target price on shares of NextEra Energy in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. NextEra Energy presently has an average rating of “Buy” and a consensus target price of $159.56.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.08. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The company’s revenue was up .1% on a year-over-year basis. research analysts forecast that NextEra Energy will post 6.73 EPS for the current fiscal year.
In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 42,372 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the completion of the transaction, the chief executive officer now directly owns 121,958 shares of the company’s stock, valued at $19,202,287.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James L. Robo sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in NextEra Energy by 0.6% in the second quarter. BlackRock Inc. now owns 38,051,440 shares of the utilities provider’s stock valued at $5,332,149,000 after acquiring an additional 217,972 shares during the period. Vanguard Group Inc. raised its stake in shares of NextEra Energy by 4.6% during the 2nd quarter. Vanguard Group Inc. now owns 34,147,719 shares of the utilities provider’s stock worth $4,785,120,000 after buying an additional 1,503,907 shares during the period. FMR LLC raised its stake in shares of NextEra Energy by 1.1% during the 2nd quarter. FMR LLC now owns 7,767,929 shares of the utilities provider’s stock worth $1,088,520,000 after buying an additional 87,224 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of NextEra Energy by 26.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,724,367 shares of the utilities provider’s stock worth $548,102,000 after buying an additional 777,351 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of NextEra Energy by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 2,772,914 shares of the utilities provider’s stock worth $406,375,000 after buying an additional 76,379 shares during the period. 75.39% of the stock is owned by institutional investors.
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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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