JPMorgan Chase & Co. Forecasts Strong Price Appreciation for NextEra Energy (NYSE:NEE) Stock

NextEra Energy (NYSE:NEE) had its price objective increased by equities researchers at JPMorgan Chase & Co. from $94.00 to $97.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 18.67% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. HSBC lifted their price objective on NextEra Energy from $94.00 to $95.00 in a research report on Monday, November 10th. Wells Fargo & Company raised shares of NextEra Energy to a “strong-buy” rating in a research note on Tuesday, October 28th. Melius Research raised shares of NextEra Energy to a “strong-buy” rating in a research report on Wednesday, August 20th. New Street Research set a $84.00 price target on shares of NextEra Energy in a research report on Monday, October 13th. Finally, Melius started coverage on NextEra Energy in a report on Wednesday, August 20th. They set a “buy” rating and a $77.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.95.

NextEra Energy Trading Up 0.6%

Shares of NYSE NEE traded up $0.47 during midday trading on Thursday, reaching $81.74. 3,705,412 shares of the stock were exchanged, compared to its average volume of 11,269,972. The stock has a 50 day moving average price of $83.59 and a 200-day moving average price of $76.42. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $170.23 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.68 and a beta of 0.74. NextEra Energy has a 52-week low of $61.72 and a 52-week high of $87.53.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.13 billion. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. NextEra Energy’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Equities research analysts expect that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insider Activity at NextEra Energy

In other NextEra Energy news, EVP Charles E. Sieving sold 11,336 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the transaction, the executive vice president owned 167,481 shares of the company’s stock, valued at approximately $13,398,480. This trade represents a 6.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Armando Pimentel, Jr. sold 145,140 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $83.91, for a total value of $12,178,697.40. Following the sale, the chief executive officer owned 162,693 shares of the company’s stock, valued at $13,651,569.63. The trade was a 47.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 158,168 shares of company stock valued at $13,209,770. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On NextEra Energy

Several hedge funds and other institutional investors have recently modified their holdings of NEE. Activest Wealth Management raised its stake in shares of NextEra Energy by 79.7% in the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 157 shares in the last quarter. Harbor Asset Planning Inc. bought a new position in shares of NextEra Energy during the 2nd quarter worth approximately $25,000. Goodman Advisory Group LLC acquired a new stake in NextEra Energy in the 2nd quarter valued at $25,000. Tripletail Wealth Management LLC acquired a new position in NextEra Energy during the third quarter worth $25,000. Finally, 1 North Wealth Services LLC bought a new position in shares of NextEra Energy during the first quarter valued at $26,000. Institutional investors and hedge funds 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.