NextEra Energy (NYSE:NEE) Trading 6.2% Higher Following Analyst Upgrade

NextEra Energy, Inc. (NYSE:NEE)’s share price shot up 6.2% on Friday after Morgan Stanley raised their price target on the stock from $93.00 to $94.00. Morgan Stanley currently has an overweight rating on the stock. NextEra Energy traded as high as $73.92 and last traded at $73.53. 17,200,612 shares changed hands during mid-day trading, an increase of 53% from the average session volume of 11,254,776 shares. The stock had previously closed at $69.23.

Several other analysts have also issued reports on the stock. Barclays upped their price target on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Guggenheim increased their price objective on shares of NextEra Energy from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Scotiabank increased their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets increased their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.15.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now owns 15,792 shares of the company’s stock, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

Several large investors have recently bought and sold shares of NEE. Burkett Financial Services LLC lifted its stake in NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 332 shares in the last quarter. Reston Wealth Management LLC bought a new position in NextEra Energy during the 3rd quarter valued at $27,000. Sugar Maple Asset Management LLC bought a new position in NextEra Energy during the 4th quarter valued at $28,000. Quarry LP bought a new position in NextEra Energy during the 3rd quarter valued at $33,000. Finally, Luken Investment Analytics LLC bought a new position in NextEra Energy during the 4th quarter valued at $36,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Stock Up 5.3 %

The company has a market capitalization of $149.93 billion, a P/E ratio of 21.57, a PEG ratio of 2.29 and a beta of 0.58. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. The stock has a 50 day moving average price of $73.02 and a 200 day moving average price of $77.12.

NextEra Energy (NYSE:NEE) last released its earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. Equities research analysts forecast that NextEra Energy, Inc. will post 3.41 earnings per share for the current fiscal year.

About NextEra Energy

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,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.