NextEra Energy (NYSE:NEE) Stock Price Expected to Rise, Scotiabank Analyst Says

NextEra Energy (NYSE:NEE) had its target price increased by Scotiabank from $92.00 to $96.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price would indicate a potential upside of 30.40% from the company’s previous close.

A number of other research firms also recently issued reports on NEE. Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Barclays boosted their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. BMO Capital Markets boosted their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group started coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target for the company. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $87.15.

NextEra Energy Trading Up 0.5 %

NextEra Energy stock opened at $73.62 on Thursday. NextEra Energy has a 1 year low of $53.95 and a 1 year high of $86.10. The firm’s 50 day moving average price is $78.41 and its 200-day moving average price is $77.74. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The stock has a market cap of $151.39 billion, a P/E ratio of 21.78, a PEG ratio of 2.67 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. On average, equities analysts predict that NextEra Energy will post 3.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Nicole J. Daggs sold 4,007 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total transaction of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On NextEra Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Proffitt & Goodson Inc. boosted its holdings in shares of NextEra Energy by 64.0% in the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 144 shares during the period. Semmax Financial Advisors Inc. increased its stake in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after buying an additional 225 shares during the period. Reston Wealth Management LLC bought a new stake in shares of NextEra Energy in the third quarter valued at about $27,000. Valley Wealth Managers Inc. purchased a new stake in NextEra Energy in the second quarter worth about $33,000. Finally, Quarry LP purchased a new position in NextEra Energy during the 3rd quarter valued at about $33,000. 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.