NextEra Energy (NYSE:NEE) Price Target Raised to $98.00 at Wells Fargo & Company

NextEra Energy (NYSE:NEE) had its price objective upped by equities research analysts at Wells Fargo & Company from $97.00 to $98.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.13% from the company’s current price.

NEE has been the subject of several other research reports. Citigroup restated a “buy” rating and issued a $96.00 price objective (up from $84.00) on shares of NextEra Energy in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price target on NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Jefferies Financial Group set a $87.00 price objective on NextEra Energy in a report on Wednesday, January 14th. HSBC boosted their target price on NextEra Energy from $94.00 to $95.00 in a research report on Monday, November 10th. Finally, BTIG Research reaffirmed a “buy” rating and set a $100.00 target price on shares of NextEra Energy in a report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.56.

NextEra Energy Stock Performance

NYSE:NEE traded up $0.04 during trading hours on Tuesday, reaching $83.67. The stock had a trading volume of 1,867,459 shares, compared to its average volume of 8,365,017. The stock has a market cap of $174.25 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. NextEra Energy has a 12-month low of $61.72 and a 12-month high of $87.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. The stock has a 50 day simple moving average of $82.29 and a 200 day simple moving average of $78.34.

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

Insider Buying and Selling at NextEra Energy

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 162,693 shares of the company’s stock, valued at approximately $13,651,569.63. This represents a 47.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

Hedge funds have recently modified their holdings of the business. Essex LLC grew its holdings in NextEra Energy by 3.8% in the fourth quarter. Essex LLC now owns 5,721 shares of the utilities provider’s stock worth $459,000 after purchasing an additional 208 shares during the period. Wealth Management Associates Inc. increased its holdings in shares of NextEra Energy by 3.7% during the fourth quarter. Wealth Management Associates Inc. now owns 6,075 shares of the utilities provider’s stock valued at $488,000 after acquiring an additional 218 shares in the last quarter. Tower Wealth Partners Inc. purchased a new stake in NextEra Energy during the 4th quarter valued at about $216,000. Beaumont Financial Advisors LLC increased its stake in NextEra Energy by 2.6% during the 4th quarter. Beaumont Financial Advisors LLC now owns 35,165 shares of the utilities provider’s stock valued at $2,823,000 after purchasing an additional 883 shares in the last quarter. Finally, First Pacific Financial raised its holdings in NextEra Energy by 115.8% in the fourth quarter. First Pacific Financial now owns 19,528 shares of the utilities provider’s stock worth $1,568,000 after buying an additional 10,478 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.