Royal Bank of Canada Reiterates Outperform Rating for NextEra Energy (NYSE:NEE)

NextEra Energy (NYSE:NEEGet Free Report)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They currently have a $74.00 price target on the utilities provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 26.26% from the company’s current price.

NEE has been the subject of a number of other reports. Guggenheim lifted their target price on NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 22nd. The Goldman Sachs Group cut their target price on shares of NextEra Energy from $83.00 to $72.00 and set a “buy” rating on the stock in a research note on Monday, October 2nd. Morgan Stanley decreased their price target on shares of NextEra Energy from $79.00 to $76.00 and set an “overweight” rating for the company in a research note on Tuesday, November 21st. Wolfe Research dropped their price objective on shares of NextEra Energy from $79.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, October 20th. Finally, Evercore ISI reduced their price objective on shares of NextEra Energy from $80.00 to $66.00 and set an “in-line” rating on the stock in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $71.85.

Check Out Our Latest Analysis on NextEra Energy

NextEra Energy Stock Down 1.1 %

Shares of NYSE:NEE opened at $58.61 on Tuesday. The firm has a market capitalization of $120.25 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.52. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $79.78. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.55 and a quick ratio of 0.47. The firm’s 50-day moving average is $59.81 and its two-hundred day moving average is $61.92.

NextEra Energy (NYSE:NEEGet Free Report) last announced its earnings results on Thursday, January 25th. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.72 billion. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. During the same period in the prior year, the firm earned $0.51 EPS. Analysts predict that NextEra Energy will post 3.44 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nicole S. Arnaboldi bought 8,500 shares of NextEra Energy stock in a transaction dated Friday, December 8th. The stock was acquired at an average cost of $59.59 per share, with a total value of $506,515.00. Following the acquisition, the director now owns 11,523 shares of the company’s stock, valued at $686,655.57. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of NextEra Energy by 1.0% during the third quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock worth $11,368,065,000 after buying an additional 1,956,153 shares during the period. Geode Capital Management LLC lifted its position in NextEra Energy by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 36,670,792 shares of the utilities provider’s stock worth $2,712,616,000 after acquiring an additional 1,437,501 shares during the period. Norges Bank purchased a new position in shares of NextEra Energy in the 4th quarter valued at approximately $2,774,845,000. Moneta Group Investment Advisors LLC increased its holdings in shares of NextEra Energy by 66,613.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 30,263,816 shares of the utilities provider’s stock valued at $2,530,055,000 after purchasing an additional 30,218,452 shares during the period. Finally, Northern Trust Corp raised its stake in shares of NextEra Energy by 2.0% during the third quarter. Northern Trust Corp now owns 22,982,250 shares of the utilities provider’s stock worth $1,316,653,000 after purchasing an additional 455,271 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

NextEra Energy Company Profile

(Get Free Report)

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, coal, and natural gas facilities. 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.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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