NextEra Energy (NYSE:NEE) Price Target Increased to $67.00 by Analysts at Bank of America

NextEra Energy (NYSE:NEE) had its price target boosted by Bank of America from $61.00 to $67.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the utilities provider’s stock.

Several other research analysts have also recently commented on NEE. Morgan Stanley raised their target price on NextEra Energy from $77.00 to $79.00 and gave the stock an overweight rating in a research report on Monday. Guggenheim increased their price objective on NextEra Energy from $70.00 to $80.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Barclays started coverage on NextEra Energy in a research note on Wednesday, April 10th. They set an equal weight rating and a $66.00 price objective for the company. BMO Capital Markets dropped their price objective on NextEra Energy from $77.00 to $68.00 and set an outperform rating for the company in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company increased their price objective on NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $70.93.

NextEra Energy Stock Up 1.3 %

NEE opened at $66.18 on Tuesday. NextEra Energy has a 1-year low of $47.15 and a 1-year high of $79.25. 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 stock has a market capitalization of $135.83 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 2.31 and a beta of 0.51. The business has a 50 day moving average of $60.26 and a 200-day moving average of $58.83.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. NextEra Energy’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.84 earnings per share. As a group, sell-side analysts anticipate that NextEra Energy will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.11%. NextEra Energy’s dividend payout ratio (DPR) is 57.06%.

Institutional Trading of NextEra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Clear Investment Research LLC increased its position in NextEra Energy by 387.2% in the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 364 shares during the period. BOK Financial Private Wealth Inc. acquired a new stake in NextEra Energy in the fourth quarter worth about $29,000. Alaska Permanent Fund Corp increased its position in NextEra Energy by 59.8% in the third quarter. Alaska Permanent Fund Corp now owns 556 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 208 shares during the period. Stuart Chaussee & Associates Inc. increased its position in NextEra Energy by 315.4% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 410 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new stake in NextEra Energy in the fourth quarter worth about $34,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

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.