NextEra Energy (NEE) Given New $190.00 Price Target at Argus

NextEra Energy (NYSE:NEE) had its target price lifted by equities researchers at Argus from $184.00 to $190.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the utilities provider’s stock. Argus’ target price would indicate a potential upside of 9.43% from the stock’s previous close.

NEE has been the subject of a number of other reports. Wells Fargo & Co upped their price target on NextEra Energy from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley dropped their price target on NextEra Energy from $186.00 to $184.00 and set a “buy” rating for the company in a research report on Friday, September 21st. Zacks Investment Research lowered NextEra Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Mizuho began coverage on NextEra Energy in a research report on Monday, August 13th. They issued a “buy” rating and a $184.00 price target for the company. Finally, ValuEngine upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $172.31.

NYSE:NEE traded up $0.08 during trading hours on Wednesday, hitting $173.63. 114,980 shares of the stock were exchanged, compared to its average volume of 1,763,700. NextEra Energy has a 52-week low of $145.10 and a 52-week high of $176.82. The company has a current ratio of 0.65, a quick ratio of 0.57 and a debt-to-equity ratio of 0.72. The firm has a market cap of $81.20 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.66 and a beta of 0.20.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, October 23rd. The utilities provider reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.03. NextEra Energy had a return on equity of 10.21% and a net margin of 51.25%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the previous year, the business earned $1.85 EPS. NextEra Energy’s quarterly revenue was down 8.1% on a year-over-year basis. On average, research analysts forecast that NextEra Energy will post 7.76 earnings per share for the current year.

In related news, Director Rudy E. Schupp sold 1,600 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $167.00, for a total value of $267,200.00. Following the completion of the transaction, the director now directly owns 21,300 shares in the company, valued at $3,557,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer Paul I. Cutler sold 7,639 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $173.30, for a total value of $1,323,838.70. Following the completion of the transaction, the treasurer now owns 98,914 shares of the company’s stock, valued at $17,141,796.20. The disclosure for this sale can be found here. Insiders sold 74,024 shares of company stock valued at $12,742,375 over the last 90 days. Company insiders own 0.55% of the company’s stock.

A number of institutional investors have recently modified their holdings of NEE. Philadelphia Trust Co. lifted its stake in NextEra Energy by 8.0% during the second quarter. Philadelphia Trust Co. now owns 4,047 shares of the utilities provider’s stock worth $676,000 after purchasing an additional 300 shares in the last quarter. Monetary Management Group Inc. lifted its stake in NextEra Energy by 11.4% during the second quarter. Monetary Management Group Inc. now owns 2,935 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 300 shares in the last quarter. Burns J W & Co. Inc. NY lifted its stake in NextEra Energy by 18.1% during the third quarter. Burns J W & Co. Inc. NY now owns 1,954 shares of the utilities provider’s stock worth $327,000 after purchasing an additional 300 shares in the last quarter. Gilman Hill Asset Management LLC lifted its stake in NextEra Energy by 12.4% during the third quarter. Gilman Hill Asset Management LLC now owns 2,720 shares of the utilities provider’s stock worth $456,000 after purchasing an additional 300 shares in the last quarter. Finally, SignalPoint Asset Management LLC lifted its stake in NextEra Energy by 23.0% during the third quarter. SignalPoint Asset Management LLC now owns 1,603 shares of the utilities provider’s stock worth $268,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

NextEra Energy Company Profile

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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