NextEra Energy (NYSE:NEE) Price Target Increased to $90.00 by Analysts at Morgan Stanley

NextEra Energy (NYSE:NEE) had its price objective increased by investment analysts at Morgan Stanley from $87.00 to $90.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 6.24% from the stock’s current price.

Several other analysts also recently weighed in on NEE. Jefferies Financial Group started coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target on the stock. Evercore ISI upped their price target on NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 12th. Wells Fargo & Company increased their target price on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. BMO Capital Markets increased their target price on NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, Scotiabank increased their target price on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy currently has an average rating of “Moderate Buy” and an average price target of $82.07.

NextEra Energy Stock Up 0.5 %

Shares of NEE stock traded up $0.42 during midday trading on Wednesday, reaching $84.71. 1,833,991 shares of the stock were exchanged, compared to its average volume of 10,906,735. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $85.56. The company’s 50 day moving average is $78.86 and its two-hundred day moving average is $72.84. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15. The firm has a market cap of $174.11 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last posted its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $6.07 billion for the quarter, compared to the consensus estimate of $7.29 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. During the same quarter in the prior year, the business earned $0.88 EPS. On average, equities research analysts predict that NextEra Energy will post 3.4 EPS for the current year.

Insider Activity

In other news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

A number of institutional investors have recently bought and sold shares of NEE. M&G Plc bought a new position in NextEra Energy in the 1st quarter worth $303,065,000. Zimmer Partners LP raised its holdings in NextEra Energy by 8,447.5% in the 1st quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after purchasing an additional 2,703,200 shares during the period. State of Michigan Retirement System raised its holdings in NextEra Energy by 400.7% in the 1st quarter. State of Michigan Retirement System now owns 2,812,198 shares of the utilities provider’s stock worth $179,728,000 after purchasing an additional 2,250,500 shares during the period. Raymond James & Associates raised its holdings in NextEra Energy by 57.0% in the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock worth $421,831,000 after purchasing an additional 2,163,437 shares during the period. Finally, Capital World Investors bought a new position in NextEra Energy in the 4th quarter worth $114,953,000. 78.72% of the stock is owned by institutional investors.

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.