NextEra Energy Given “Neutral” Rating at Zacks (NEE)
NextEra Energy (NYSE:NEE)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Wednesday. They currently have a $102.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 4.98% from the stock’s previous close.
Zacks’ analyst wrote, “NextEra Energy Inc. registered strong top-line results in the first quarter of 2014 backed by a buoyant Florida economy. The combination of increased electric rates and customer expansion improved the company’s sales numbers in the first quarter. Going ahead, the positive economic momentum will keep NextEra Energy well-positioned in the industry. The start-up of the company’s two key fuel-efficient projects- the Riviera Beach and the Cape Canaveral facilities – will increase its power generation capabilities. NextEra Energy’s large-scale modernization programs are further anticipated to strengthen its service reliability leading to customer retention. Also, continued renewable portfolio expansion is appreciable given the favorable renewable climate in the U.S. However, weather variations and commodity price sensitivities might act as growth deterrents. We, therefore, maintained our Neutral recommendation.”
In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 4,779 shares of the stock on the open market in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $97.17, for a total value of $464,375.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NextEra Energy (NYSE:NEE) traded down 0.10% during mid-day trading on Wednesday, hitting $97.06. The stock had a trading volume of 942,457 shares. NextEra Energy has a 52-week low of $75.64 and a 52-week high of $101.50. The stock’s 50-day moving average is $97.14 and its 200-day moving average is $91.27. The company has a market cap of $42.330 billion and a price-to-earnings ratio of 20.26.
NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.06 by $0.20. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts predict that NextEra Energy will post $5.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Thursday, May 29th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs downgraded shares of NextEra Energy from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, May 27th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of NextEra Energy in a research note on Wednesday, May 21st. They now have a $96.00 price target on the stock, up previously from $94.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of NextEra Energy in a research note on Thursday, May 1st. They now have a $105.00 price target on the stock. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. NextEra Energy currently has a consensus rating of “Buy” and a consensus price target of $100.62.
NextEra Energy, Inc (NYSE:NEE) is an electric power company.
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