NextEra Energy, Inc. (NEE) Given a $169.00 Price Target at J P Morgan Chase & Co
NextEra Energy, Inc. (NYSE:NEE) has been given a $169.00 target price by investment analysts at J P Morgan Chase & Co in a research note issued on Thursday. The brokerage currently has a “hold” rating on the utilities provider’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 12.76% from the company’s current price.
Several other equities research analysts have also recently commented on NEE. BidaskClub upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Morgan Stanley boosted their price target on shares of NextEra Energy from $163.00 to $167.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $147.00 price target (up from $144.00) on shares of NextEra Energy in a research report on Sunday, July 9th. Wells Fargo & Company reiterated an “outperform” rating and issued a $158.00 price target (up from $150.00) on shares of NextEra Energy in a research report on Monday, June 19th. Finally, Zacks Investment Research upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $165.00 price target on the stock in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. NextEra Energy has an average rating of “Buy” and an average price target of $153.75.
NextEra Energy (NEE) traded up 0.36% during trading on Thursday, hitting $150.41. 736,737 shares of the stock were exchanged. NextEra Energy has a one year low of $110.49 and a one year high of $151.60. The company has a market cap of $70.58 billion, a price-to-earnings ratio of 17.23 and a beta of 0.31. The stock’s 50 day moving average is $148.60 and its 200-day moving average is $141.57.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 EPS for the quarter, topping 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same period in the previous year, the business earned $1.67 earnings per share. NextEra Energy’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that NextEra Energy will post $6.73 earnings per share for the current fiscal year.
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In other NextEra Energy news, Director James L. Robo sold 30,000 shares of NextEra Energy 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 is accessible through the SEC website. Also, EVP John W. Ketchum sold 2,900 shares of NextEra Energy stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $150.00, for a total value of $435,000.00. Following the transaction, the executive vice president now directly owns 18,786 shares in the company, valued at approximately $2,817,900. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 65,385 shares of company stock worth $9,614,382. Company insiders own 0.53% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. grew its stake in NextEra Energy by 6.7% during the 3rd quarter. Eqis Capital Management Inc. now owns 19,308 shares of the utilities provider’s stock valued at $2,830,000 after acquiring an additional 1,217 shares in the last quarter. Curbstone Financial Management Corp lifted its holdings in shares of NextEra Energy by 97.7% during the 3rd quarter. Curbstone Financial Management Corp now owns 7,900 shares of the utilities provider’s stock valued at $1,158,000 after buying an additional 3,905 shares during the last quarter. Bath Savings Trust Co lifted its holdings in shares of NextEra Energy by 10.8% during the 3rd quarter. Bath Savings Trust Co now owns 47,031 shares of the utilities provider’s stock valued at $6,893,000 after buying an additional 4,600 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in shares of NextEra Energy by 11.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 4,277 shares of the utilities provider’s stock valued at $627,000 after buying an additional 434 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in shares of NextEra Energy by 9.2% during the 2nd quarter. Perigon Wealth Management LLC now owns 5,901 shares of the utilities provider’s stock valued at $827,000 after buying an additional 496 shares during the last quarter. 75.41% of the stock is currently owned by institutional investors.
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.
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