Guggenheim Boosts NextEra Energy (NYSE:NEE) Price Target to $92.00

NextEra Energy (NYSE:NEE) had its price target raised by Guggenheim from $90.00 to $92.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

NEE has been the topic of a number of other reports. Barclays upped their target price on shares of NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Bank of America upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Jefferies Financial Group started coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target for the company. Scotiabank upped their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, NextEra Energy has a consensus rating of “Hold” and an average target price of $86.54.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $81.43 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $167.37 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.03 and a beta of 0.56. The firm’s 50-day moving average is $82.36 and its 200 day moving average is $76.20. NextEra Energy has a 12 month low of $53.81 and a 12 month high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. Research analysts predict that NextEra Energy will post 3.4 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.53%. NextEra Energy’s payout ratio is currently 66.88%.

Insider Transactions at NextEra Energy

In other news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now owns 100 shares in the company, valued at $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in NEE. Proffitt & Goodson Inc. grew its position in NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after buying an additional 144 shares during the period. Semmax Financial Advisors Inc. grew its position in 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. Valley Wealth Managers Inc. acquired a new stake in NextEra Energy during the second quarter valued at $33,000. Maryland Capital Advisors Inc. acquired a new stake in NextEra Energy during the third quarter valued at $39,000. Finally, Family Firm Inc. purchased a new position in NextEra Energy during the second quarter valued at $40,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Company Profile

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.