Morgan Stanley Boosts NextEra Energy (NYSE:NEE) Price Target to $234.00

NextEra Energy (NYSE:NEE) had its price objective boosted by Morgan Stanley from $207.00 to $234.00 in a report issued on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

NEE has been the topic of a number of other reports. UBS Group raised their price target on shares of NextEra Energy from $225.00 to $236.00 and gave the stock a buy rating in a research report on Friday, June 7th. Scotiabank raised shares of NextEra Energy from a sector perform rating to an outperform rating and raised their price target for the stock from $187.00 to $202.00 in a research report on Wednesday, May 8th. Bank of America raised their price target on shares of NextEra Energy from $215.00 to $225.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Zacks Investment Research lowered shares of NextEra Energy from a buy rating to a hold rating in a research report on Monday, April 29th. Finally, Guggenheim raised their price target on shares of NextEra Energy from $205.00 to $223.00 and gave the stock a buy rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $214.46.

NYSE:NEE opened at $217.53 on Tuesday. NextEra Energy has a 52 week low of $164.25 and a 52 week high of $219.77. The firm has a market cap of $104.22 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 3.20 and a beta of 0.22. The firm’s 50-day simple moving average is $210.13 and its 200 day simple moving average is $197.29. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.42 and a current ratio of 0.52.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.07. NextEra Energy had a net margin of 18.73% and a return on equity of 10.46%. The business had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period last year, the firm earned $2.08 earnings per share. NextEra Energy’s revenue for the quarter was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate that NextEra Energy will post 8.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 29th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 28th. NextEra Energy’s dividend payout ratio is currently 64.94%.

In other NextEra Energy news, EVP Charles E. Sieving sold 16,446 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.08, for a total value of $3,290,515.68. Following the transaction, the executive vice president now directly owns 67,900 shares of the company’s stock, valued at approximately $13,585,432. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James L. Robo sold 44,537 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $216.85, for a total transaction of $9,657,848.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,324 shares of company stock worth $20,603,284. Insiders own 0.48% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. grew its holdings in shares of NextEra Energy by 41.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,524,371 shares of the utilities provider’s stock valued at $517,143,000 after purchasing an additional 740,059 shares during the last quarter. Railway Pension Investments Ltd bought a new stake in shares of NextEra Energy during the 2nd quarter valued at approximately $13,001,000. Vanguard Group Inc. grew its holdings in shares of NextEra Energy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 43,282,619 shares of the utilities provider’s stock valued at $8,866,878,000 after purchasing an additional 573,923 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of NextEra Energy by 19.1% during the 2nd quarter. California Public Employees Retirement System now owns 3,437,222 shares of the utilities provider’s stock valued at $704,149,000 after purchasing an additional 550,956 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of NextEra Energy by 20,386.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 435,942 shares of the utilities provider’s stock valued at $43,594,000 after purchasing an additional 433,814 shares during the last quarter. 75.76% of the stock is currently owned by hedge funds and other institutional investors.

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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