Morgan Stanley Raises NextEra Energy Inc (NEE) Price Target to $169.00
NextEra Energy Inc (NYSE:NEE) had its price target hoisted by investment analysts at Morgan Stanley from $167.00 to $169.00 in a research report issued on Friday. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 13.05% from the stock’s previous close.
NEE has been the topic of several other reports. BidaskClub raised NextEra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) initiated coverage on NextEra Energy in a research report on Monday, July 24th. They issued a “buy” rating and a $160.00 target price on the stock. KeyCorp reissued a “buy” rating and issued a $155.00 target price on shares of NextEra Energy in a research report on Friday, September 1st. BMO Capital Markets reissued a “buy” rating and issued a $156.00 target price (up from $144.00) on shares of NextEra Energy in a research report on Friday, June 23rd. Finally, Zacks Investment Research downgraded NextEra Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $151.15.
Shares of NextEra Energy (NYSE NEE) traded down 0.82% during mid-day trading on Friday, hitting $148.26. The company had a trading volume of 2,930,161 shares. The company has a market capitalization of $69.57 billion, a price-to-earnings ratio of 16.98 and a beta of 0.33. NextEra Energy has a 1-year low of $110.49 and a 1-year high of $151.30. The company has a 50-day moving average price of $147.90 and a 200-day moving average price of $138.54.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.10. NextEra Energy had a return on equity of 12.37% and a net margin of 18.26%. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period in the prior year, the firm earned $1.67 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. On average, equities analysts anticipate that NextEra Energy will post $6.73 EPS for the current year.
In other news, Director James L. Robo sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total transaction of $4,411,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Hanson McClain Inc. grew its position in shares of NextEra Energy by 6.0% during the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 43 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in shares of NextEra Energy by 8.9% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 71 shares during the period. Archford Capital Strategies LLC grew its position in shares of NextEra Energy by 76.9% during the 2nd quarter. Archford Capital Strategies LLC now owns 10,000 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 4,347 shares during the period. Highstreet Asset Management Inc. acquired a new stake in shares of NextEra Energy during the 2nd quarter valued at about $134,000. Finally, Atlantic Trust LLC acquired a new stake in shares of NextEra Energy during the 2nd quarter valued at about $154,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.
About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
Receive News & Ratings for NextEra Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Inc and related companies with MarketBeat.com's FREE daily email newsletter.