NextEra Energy (NEE) Rating Increased to Hold at Zacks Investment Research

NextEra Energy (NYSE:NEE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

According to Zacks, “Shares of NextEra Energy have outperformed the Industry rally in the past 12 months. NextEra Energy’s investment to strengthen its infrastructure and ongoing capital projects, when completed, will help it serve its expanding customer base more efficiently. The company’s focus on clean energy has helped it lower emission levels, and use of new technology has saved on energy bills for its customers. The natural gas pipelines, which came online in first half of 2017, are expected to boost its performance. The company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Despite investments made to strengthen its infrastructure the unpredictable nature of natural disaster could derail normal operation and impact profitability. We could also notice a decline in its fourth quarter Zacks Consensus Estimate for earnings.”

A number of other research analysts have also recently weighed in on NEE. JPMorgan Chase & Co. set a $169.00 target price on shares of NextEra Energy and gave the company a “hold” rating in a research note on Thursday, October 12th. KeyCorp reiterated a “buy” rating and issued a $155.00 target price on shares of NextEra Energy in a research note on Thursday, October 12th. Bank of America initiated coverage on shares of NextEra Energy in a research report on Tuesday, October 24th. They issued a “buy” rating and a $166.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $156.00 price target on shares of NextEra Energy in a research report on Tuesday, November 7th. Finally, Argus reissued a “buy” rating and issued a $173.00 price target on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $159.56.

NextEra Energy (NYSE NEE) traded up $1.34 on Thursday, reaching $151.88. 2,326,100 shares of the company’s stock were exchanged, compared to its average volume of 2,073,364. The company has a current ratio of 0.61, a quick ratio of 0.49 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $71,120.00, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.78 and a beta of 0.31. NextEra Energy has a 52-week low of $117.91 and a 52-week high of $159.40.

NextEra Energy (NYSE:NEE) last released its earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.89 billion. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 earnings per share. sell-side analysts expect that NextEra Energy will post 6.73 EPS for the current year.

In related news, CEO Armando Pimentel, Jr. sold 42,372 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the sale, the chief executive officer now owns 121,958 shares of the company’s stock, valued at approximately $19,202,287.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total transaction of $4,545,600.00. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC increased its holdings in shares of NextEra Energy by 242.3% in the 2nd quarter. Global X Management Co. LLC now owns 818 shares of the utilities provider’s stock worth $107,000 after buying an additional 579 shares during the last quarter. Hanson McClain Inc. increased its holdings in shares of NextEra Energy by 6.0% in the 2nd quarter. Hanson McClain Inc. now owns 763 shares of the utilities provider’s stock worth $107,000 after buying an additional 43 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of NextEra Energy by 8.9% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 871 shares of the utilities provider’s stock worth $112,000 after buying an additional 71 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in shares of NextEra Energy by 378.8% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 948 shares of the utilities provider’s stock worth $124,000 after buying an additional 750 shares during the last quarter. Finally, Risk Paradigm Group LLC increased its holdings in shares of NextEra Energy by 108.1% in the 3rd quarter. Risk Paradigm Group LLC now owns 851 shares of the utilities provider’s stock worth $125,000 after buying an additional 442 shares during the last quarter. 75.41% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/18/nextera-energy-nee-rating-increased-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on NextEra Energy (NEE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for NextEra Energy (NYSE:NEE)

Receive News & Ratings for NextEra Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply