BMO Capital Markets Raises NextEra Energy (NYSE:NEE) Price Target to $78.00

NextEra Energy (NYSE:NEEFree Report) had its price target lifted by BMO Capital Markets from $72.00 to $78.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the utilities provider’s stock.

Several other equities research analysts have also issued reports on the company. Scotiabank raised their target price on NextEra Energy from $69.00 to $73.00 and gave the company a sector outperform rating in a research report on Monday, April 22nd. Wells Fargo & Company increased their target price on shares of NextEra Energy from $84.00 to $85.00 and gave the company an overweight rating in a research report on Tuesday, March 19th. Guggenheim upped their price objective on NextEra Energy from $70.00 to $80.00 and gave the company a buy rating in a research note on Monday, January 22nd. Mizuho raised their target price on NextEra Energy from $67.00 to $71.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley lifted their price objective on NextEra Energy from $77.00 to $79.00 and gave the stock an overweight rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $71.93.

Check Out Our Latest Report on NextEra Energy

NextEra Energy Stock Down 1.1 %

NextEra Energy stock traded down $0.79 during midday trading on Tuesday, reaching $73.79. The stock had a trading volume of 12,045,045 shares, compared to its average volume of 11,862,291. The company has a fifty day moving average price of $63.40 and a two-hundred day moving average price of $60.13. The company has a market capitalization of $151.60 billion, a P/E ratio of 20.11, a PEG ratio of 2.62 and a beta of 0.50. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. NextEra Energy has a 12 month low of $47.15 and a 12 month high of $78.53.

NextEra Energy (NYSE:NEEGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.84 earnings per share. As a group, equities analysts expect that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a dividend of $0.515 per share. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Monday, February 26th. NextEra Energy’s dividend payout ratio is currently 56.13%.

Hedge Funds Weigh In On NextEra Energy

Hedge funds have recently made changes to their positions in the business. Norges Bank bought a new position in shares of NextEra Energy in the 4th quarter worth about $2,561,055,000. M&G Plc bought a new stake in NextEra Energy during the 1st quarter valued at about $303,065,000. Mizuho Markets Americas LLC purchased a new position in NextEra Energy in the third quarter worth about $141,817,000. State of Michigan Retirement System lifted its stake in shares of NextEra Energy by 400.7% in the first quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after buying an additional 2,250,500 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of NextEra Energy by 59.1% during the third quarter. Nordea Investment Management AB now owns 5,784,080 shares of the utilities provider’s stock valued at $337,096,000 after buying an additional 2,148,205 shares during the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.

About NextEra Energy

(Get Free Report)

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.

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