Morgan Stanley Raises NextEra Energy (NYSE:NEE) Price Target to $90.00

NextEra Energy (NYSE:NEE) had its price target hoisted by Morgan Stanley from $87.00 to $90.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 7.82% from the stock’s current price.

Several other brokerages have also recently issued reports on NEE. Scotiabank upped their target price on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their price objective on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Finally, Evercore ISI increased their price objective on shares of NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.07.

NextEra Energy Stock Down 1.4 %

Shares of NEE stock opened at $83.47 on Wednesday. The company’s fifty day simple moving average is $79.13 and its two-hundred day simple moving average is $72.92. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15. The stock has a market cap of $171.49 billion, a P/E ratio of 22.74, a PEG ratio of 3.08 and a beta of 0.56. NextEra Energy has a 52 week low of $47.15 and a 52 week high of $85.56.

NextEra Energy (NYSE:NEE) last announced its earnings results 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 firm had revenue of $6.07 billion for 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 in the prior year, the company earned $0.88 EPS. Analysts predict that NextEra Energy will post 3.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $76.97, for a total value of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares in the company, valued at approximately $7,697. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Proffitt & Goodson Inc. boosted its stake in shares of NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 144 shares in the last quarter. Semmax Financial Advisors Inc. boosted its stake in shares of NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 225 shares in the last quarter. Clear Investment Research LLC boosted its stake in shares of NextEra Energy by 387.2% during the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 364 shares in the last quarter. American Capital Advisory LLC boosted its stake in shares of 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 purchasing an additional 205 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in shares of NextEra Energy during the second quarter valued at approximately $33,000. 78.72% of the stock is currently owned by institutional investors.

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.