Research analysts at Bank of America Corporation assumed coverage on shares of NextEra Energy, Inc. (NYSE:NEE) in a research note issued to investors on Tuesday. The firm set a “buy” rating and a $166.00 price target on the utilities provider’s stock. Bank of America Corporation’s target price suggests a potential upside of 7.53% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and issued a $155.00 price objective on shares of NextEra Energy in a report on Thursday, October 12th. J P Morgan Chase & Co set a $169.00 price objective on NextEra Energy and gave the company a “hold” rating in a report on Thursday, October 12th. Morgan Stanley upped their price objective on NextEra Energy from $167.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Finally, BidaskClub raised NextEra Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. NextEra Energy currently has an average rating of “Buy” and a consensus target price of $154.69.

Shares of NextEra Energy (NYSE NEE) traded down 0.71% during midday trading on Tuesday, hitting $153.28. 673,432 shares of the stock traded hands. The company has a market capitalization of $71.92 billion, a PE ratio of 17.56 and a beta of 0.31. The firm’s 50 day moving average price is $149.13 and its 200 day moving average price is $142.97. NextEra Energy has a 12-month low of $110.49 and a 12-month high of $154.70.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.10. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.44 billion. During the same quarter in the prior year, the business earned $1.67 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts expect that NextEra Energy will post $6.76 EPS for the current year.

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In other news, EVP Joseph T. Kelliher sold 2,000 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles E. Sieving sold 30,485 shares of the stock in a transaction on Friday, September 22nd. The stock was 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 in the company, valued at $11,456,155.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,385 shares of company stock worth $9,614,382. 0.53% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. acquired a new stake in shares of NextEra Energy during the 2nd quarter worth $1,289,000. Salem Investment Counselors Inc. grew its holdings in shares of NextEra Energy by 12.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 9,001 shares of the utilities provider’s stock worth $1,154,000 after purchasing an additional 1,012 shares in the last quarter. NGAM Advisors L.P. grew its holdings in shares of NextEra Energy by 8.9% during the 2nd quarter. NGAM Advisors L.P. now owns 63,026 shares of the utilities provider’s stock worth $8,832,000 after purchasing an additional 5,175 shares in the last quarter. Capital One National Association grew its holdings in shares of NextEra Energy by 30.9% during the 2nd quarter. Capital One National Association now owns 21,617 shares of the utilities provider’s stock worth $3,030,000 after purchasing an additional 5,099 shares in the last quarter. Finally, M. Kraus & Co grew its holdings in shares of NextEra Energy by 4.7% during the 2nd quarter. M. Kraus & Co now owns 35,026 shares of the utilities provider’s stock worth $4,908,000 after purchasing an additional 1,568 shares in the last quarter. 75.39% 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.

Analyst Recommendations for NextEra Energy (NYSE:NEE)

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