Wells Fargo & Company Reiterates Overweight Rating for NextEra Energy (NYSE:NEE)

NextEra Energy (NYSE:NEEGet Free Report)‘s stock had its “overweight” rating reaffirmed by equities researchers at Wells Fargo & Company in a research report issued on Wednesday, Benzinga reports. They currently have a $95.00 price objective on the utilities provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 29.82% from the stock’s previous close.

NEE has been the topic of a number of other reports. Morgan Stanley lifted their target price on NextEra Energy from $79.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Bank of America boosted their price objective on NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Scotiabank raised their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, April 22nd. Mizuho lowered shares of NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 price target on the stock. in a report on Wednesday. Finally, StockNews.com raised shares of NextEra Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.86.

Get Our Latest Stock Analysis on NextEra Energy

NextEra Energy Price Performance

NYSE:NEE opened at $73.18 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $71.37 and its 200 day moving average price is $63.44. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $80.47. The firm has a market cap of $150.35 billion, a P/E ratio of 19.94, a PEG ratio of 2.82 and a beta of 0.56.

NextEra Energy (NYSE:NEEGet Free Report) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. As a group, sell-side analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy

Hedge funds have recently added to or reduced their stakes in the company. Clear Investment Research LLC increased its stake in shares of NextEra Energy by 387.2% during the 4th quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 364 shares during the last quarter. BOK Financial Private Wealth Inc. acquired a new position in NextEra Energy during the fourth quarter worth $29,000. American Capital Advisory LLC raised its holdings in NextEra Energy by 74.5% during the first quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock valued at $31,000 after buying an additional 205 shares in the last quarter. Stuart Chaussee & Associates Inc. lifted its position in shares of NextEra Energy by 315.4% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after buying an additional 410 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of NextEra Energy during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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