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

NextEra Energy (NYSE:NEE) had its price target upped by equities research analysts at Guggenheim from $90.00 to $92.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price target would suggest a potential upside of 12.98% from the stock’s current price.

Several other research analysts also recently commented on NEE. Barclays boosted their target price on NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company raised their target price on NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price target on shares of NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their price objective on shares of NextEra Energy from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley lifted their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.54.

NextEra Energy Stock Down 1.7 %

NextEra Energy stock opened at $81.43 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The company’s 50-day moving average is $82.30 and its 200-day moving average is $76.01. The firm has a market capitalization of $167.30 billion, a PE ratio of 22.19, a P/E/G ratio of 2.92 and a beta of 0.56. NextEra Energy has a fifty-two week low of $53.81 and a fifty-two week high of $86.10.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The firm had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter last year, the business earned $0.94 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that NextEra Energy will post 3.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Nicole J. Daggs sold 658 shares of the business’s 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 completion of the sale, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Intech Investment Management LLC increased its holdings in shares of NextEra Energy by 35.7% during the 1st quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock worth $6,411,000 after buying an additional 26,382 shares during the last quarter. Border to Coast Pensions Partnership Ltd increased its holdings in NextEra Energy by 2.2% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock valued at $102,495,000 after purchasing an additional 26,270 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of NextEra Energy by 10.6% in the first quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock valued at $5,112,000 after buying an additional 7,677 shares in the last quarter. Magnolia Capital Advisors LLC lifted its stake in NextEra Energy by 1,224.3% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock worth $5,130,000 after acquiring an additional 66,982 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of NextEra Energy by 57.0% in the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after purchasing an additional 2,163,437 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

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.