NextEra Energy, Inc. (NEE) Rating Reiterated by KeyCorp
NextEra Energy, Inc. (NYSE:NEE)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a research note issued on Thursday. They presently have a $155.00 target price on the utilities provider’s stock. KeyCorp’s price target indicates a potential upside of 2.85% from the company’s previous close.
NEE has been the subject of several other research reports. BidaskClub raised shares of NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of NextEra Energy in a report on Monday, July 24th. They set a “buy” rating and a $160.00 price objective for the company. BMO Capital Markets reissued a “buy” rating and set a $156.00 price objective (up previously from $144.00) on shares of NextEra Energy in a report on Friday, June 23rd. Morgan Stanley increased their price objective on shares of NextEra Energy from $167.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of NextEra Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $153.75.
NextEra Energy (NYSE:NEE) traded up 0.55% during midday trading on Thursday, reaching $150.70. The company’s stock had a trading volume of 1,303,014 shares. The firm has a 50 day moving average price of $148.60 and a 200 day moving average price of $141.57. NextEra Energy has a one year low of $110.49 and a one year high of $151.60. The firm has a market cap of $70.71 billion, a P/E ratio of 17.26 and a beta of 0.31.
NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, July 26th. The utilities provider reported $1.86 EPS for the quarter, beating the consensus estimate of $1.76 by $0.10. NextEra Energy had a net margin of 24.26% and a return on equity of 11.88%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The business’s revenue was up 15.4% on a year-over-year basis. Equities research analysts forecast that NextEra Energy will post $6.73 EPS for the current fiscal year.
In related news, EVP Charles E. Sieving sold 30,485 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $146.56, for a total value of $4,467,881.60. Following the sale, the executive vice president now directly owns 78,167 shares of the company’s stock, valued at approximately $11,456,155.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John W. Ketchum sold 2,900 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $150.00, for a total transaction of $435,000.00. Following the completion of the sale, the executive vice president now directly owns 18,786 shares in the company, valued at $2,817,900. The disclosure for this sale can be found here. Insiders sold a total of 65,385 shares of company stock worth $9,614,382 over the last three months. 0.53% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of NEE. Waldron LP increased its position in shares of NextEra Energy by 1.6% during the first quarter. Waldron LP now owns 5,510 shares of the utilities provider’s stock worth $707,000 after acquiring an additional 87 shares during the period. AT Bancorp increased its position in shares of NextEra Energy by 9.6% during the first quarter. AT Bancorp now owns 12,148 shares of the utilities provider’s stock worth $1,559,000 after acquiring an additional 1,068 shares during the period. Maple Capital Management Inc. increased its position in shares of NextEra Energy by 3.3% during the first quarter. Maple Capital Management Inc. now owns 3,097 shares of the utilities provider’s stock worth $398,000 after acquiring an additional 100 shares during the period. Harbour Investment Management LLC purchased a new position in shares of NextEra Energy during the first quarter worth approximately $2,025,000. Finally, Xact Kapitalforvaltning AB increased its position in shares of NextEra Energy by 9.9% during the first quarter. Xact Kapitalforvaltning AB now owns 36,331 shares of the utilities provider’s stock worth $4,664,000 after acquiring an additional 3,287 shares during the period. 75.41% of the stock is currently owned by institutional investors and hedge funds.
NextEra Energy Company Profile
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.
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