BMO Capital Markets Boosts NextEra Energy (NYSE:NEE) Price Target to $91.00

NextEra Energy (NYSE:NEE) had its target price increased by equities researchers at BMO Capital Markets from $83.00 to $91.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target points to a potential upside of 7.85% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company increased their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Barclays increased their price objective on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective for the company. Finally, Citigroup raised their target price on shares of NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and a consensus target price of $83.64.

NextEra Energy Price Performance

NYSE NEE opened at $84.38 on Friday. NextEra Energy has a 52 week low of $50.95 and a 52 week high of $86.10. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The stock has a market cap of $173.36 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The company has a 50-day moving average price of $81.81 and a two-hundred day moving average price of $75.52.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same period last year, the firm posted $0.88 earnings per share. Analysts forecast that NextEra Energy will post 3.4 EPS for the current year.

Insider Activity at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the sale, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On NextEra Energy

Several hedge funds have recently made changes to their positions in NEE. Legal & General Group Plc lifted its position in NextEra Energy by 0.7% in the 2nd quarter. Legal & General Group Plc now owns 21,298,642 shares of the utilities provider’s stock worth $1,508,155,000 after buying an additional 143,748 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in NextEra Energy by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,178,185 shares of the utilities provider’s stock worth $579,097,000 after buying an additional 691,341 shares in the last quarter. Nordea Investment Management AB lifted its position in NextEra Energy by 22.3% in the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock worth $443,834,000 after buying an additional 1,268,900 shares in the last quarter. Raymond James & Associates lifted its position in NextEra Energy by 14.3% in the 3rd quarter. Raymond James & Associates now owns 6,809,093 shares of the utilities provider’s stock worth $575,573,000 after buying an additional 851,873 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in NextEra Energy by 7.2% in the 2nd quarter. Principal Financial Group Inc. now owns 6,100,348 shares of the utilities provider’s stock worth $431,966,000 after buying an additional 409,708 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

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.