NextEra Energy (NYSE:NEE) Given New $96.00 Price Target at Scotiabank

NextEra Energy (NYSE:NEE) had its price objective raised by stock analysts at Scotiabank from $92.00 to $96.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 29.85% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price target on NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Bank of America increased their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Royal Bank of Canada lowered shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Morgan Stanley reduced their price target on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Wells Fargo & Company raised their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, NextEra Energy presently has a consensus rating of “Hold” and a consensus price target of $87.15.

NextEra Energy Stock Performance

NYSE NEE traded down $0.05 during trading on Thursday, hitting $73.93. 1,405,139 shares of the company’s stock traded hands, compared to its average volume of 10,785,047. The stock has a market capitalization of $152.03 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.72 and a beta of 0.56. 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 business has a 50 day moving average of $78.85 and a 200-day moving average of $77.79. NextEra Energy has a 12-month low of $53.95 and a 12-month high of $86.10.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. During the same period in the previous year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts anticipate that NextEra Energy will post 3.41 earnings per share for the current fiscal year.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 4,007 shares of NextEra Energy stock in a transaction dated Tuesday, November 12th. The stock was 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 directly owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

A number of institutional investors have recently made changes to their positions in the stock. 1ST Source Bank boosted its holdings in NextEra Energy by 0.4% in the third quarter. 1ST Source Bank now owns 34,178 shares of the utilities provider’s stock worth $2,889,000 after purchasing an additional 147 shares during the last quarter. DGS Capital Management LLC lifted its holdings in shares of NextEra Energy by 11.7% during the 3rd quarter. DGS Capital Management LLC now owns 3,944 shares of the utilities provider’s stock valued at $333,000 after buying an additional 413 shares during the period. Garden State Investment Advisory Services LLC boosted its stake in shares of NextEra Energy by 3.3% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 5,391 shares of the utilities provider’s stock worth $456,000 after buying an additional 170 shares during the last quarter. Copley Financial Group Inc. bought a new stake in shares of NextEra Energy in the third quarter worth $686,000. Finally, FFG Partners LLC purchased a new stake in NextEra Energy during the third quarter valued at $10,758,000. 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.