Zacks Investment Research upgraded shares of NextEra Energy (NYSE:NEE) from a hold rating to a buy rating in a report issued on Friday. They currently have $169.00 target price on the utilities provider’s stock.
According to Zacks, “Shares of NextEra Energy have outperformed the industry’s rally in the last 12 months. Investments made by the company to strengthen its infrastructure and ongoing capital projects, when completed, will help it serve its expanding customer base more efficiently. The company’s focus on clean energy has helped it lower emission levels, and use of new technology has saved on energy bills for its customers. The natural gas pipelines, which came online in first half of 2017, are expected to boost its performance. On the flip side, the company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Unpredictable impact of natural disaster could derail normal operation and impact profitability.”
NEE has been the subject of several other reports. Bank of America initiated coverage on NextEra Energy in a research report on Tuesday, October 24th. They set a buy rating and a $166.00 price target for the company. Royal Bank of Canada reiterated a buy rating and set a $156.00 price target on shares of NextEra Energy in a research report on Tuesday, November 7th. Credit Suisse Group assumed coverage on NextEra Energy in a research report on Thursday, December 7th. They set an outperform rating and a $173.00 price target for the company. KeyCorp reissued a buy rating and set a $155.00 price objective on shares of NextEra Energy in a research note on Thursday, October 12th. Finally, Guggenheim reissued a buy rating and set a $177.00 price objective on shares of NextEra Energy in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. NextEra Energy currently has an average rating of Buy and a consensus target price of $159.56.
NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.08. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The firm had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the business earned $1.74 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. sell-side analysts predict that NextEra Energy will post 6.73 EPS for the current year.
In other news, CEO Armando Pimentel, Jr. sold 42,372 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total value of $6,671,471.40. Following the transaction, the chief executive officer now owns 121,958 shares of the company’s stock, valued at approximately $19,202,287.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James L. Robo sold 30,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $151.52, for a total value of $4,545,600.00. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hexavest Inc. lifted its stake in NextEra Energy by 1.8% during the 4th quarter. Hexavest Inc. now owns 277,552 shares of the utilities provider’s stock worth $43,351,000 after acquiring an additional 4,894 shares in the last quarter. Covenant Asset Management LLC lifted its stake in NextEra Energy by 15.0% during the 4th quarter. Covenant Asset Management LLC now owns 2,663 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 348 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in NextEra Energy by 7.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 91,949 shares of the utilities provider’s stock worth $14,360,000 after acquiring an additional 6,650 shares in the last quarter. KAMES CAPITAL plc acquired a new position in NextEra Energy during the 4th quarter worth about $21,184,000. Finally, Rockland Trust Co. lifted its stake in NextEra Energy by 0.9% during the 4th quarter. Rockland Trust Co. now owns 60,937 shares of the utilities provider’s stock worth $9,518,000 after acquiring an additional 541 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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