NextEra Energy (NYSE:NEE) Price Target Lowered to $68.00 at BMO Capital Markets

NextEra Energy (NYSE:NEE) had its price objective cut by equities research analysts at BMO Capital Markets from $77.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 10.17% from the company’s previous close.

A number of other equities analysts also recently issued reports on NEE. Guggenheim increased their price target on shares of NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Wells Fargo & Company lifted their price objective on NextEra Energy from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. StockNews.com lowered NextEra Energy from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $74.00 price target on shares of NextEra Energy in a research report on Tuesday, January 30th. Finally, Barclays began coverage on NextEra Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $66.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.36.

NextEra Energy Stock Performance

Shares of NextEra Energy stock traded down $1.03 during trading hours on Tuesday, hitting $61.72. 2,129,590 shares of the company were exchanged, compared to its average volume of 11,687,587. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $79.78. 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 business has a 50-day moving average of $59.32 and a 200-day moving average of $58.32. The stock has a market capitalization of $126.68 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 2.27 and a beta of 0.51.

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

Hedge Funds Weigh In On NextEra Energy

A number of large investors have recently bought and sold shares of NEE. Wimmer Associates 1 LLC increased its position in NextEra Energy by 3.6% during the first quarter. Wimmer Associates 1 LLC now owns 3,935 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 135 shares during the period. Kolinsky Wealth Management LLC increased its holdings in shares of NextEra Energy by 2.1% during the 1st quarter. Kolinsky Wealth Management LLC now owns 6,669 shares of the utilities provider’s stock worth $514,000 after purchasing an additional 139 shares during the period. Baldwin Investment Management LLC raised its position in shares of NextEra Energy by 0.4% during the first quarter. Baldwin Investment Management LLC now owns 35,437 shares of the utilities provider’s stock valued at $2,731,000 after buying an additional 150 shares during the last quarter. GSG Advisors LLC lifted its stake in shares of NextEra Energy by 2.6% in the first quarter. GSG Advisors LLC now owns 6,509 shares of the utilities provider’s stock valued at $407,000 after buying an additional 162 shares during the period. Finally, Greenfield Savings Bank grew its position in NextEra Energy by 0.5% during the fourth quarter. Greenfield Savings Bank now owns 32,220 shares of the utilities provider’s stock worth $1,957,000 after buying an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

About NextEra Energy

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.