NextEra Energy (NYSE:NEE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

NextEra Energy (NYSE:NEE) had its price objective boosted by Morgan Stanley from $95.00 to $97.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities research analysts have also issued reports on NEE. Guggenheim reiterated a “buy” rating and issued a $89.00 price target on shares of NextEra Energy in a research note on Thursday. BMO Capital Markets boosted their price objective on shares of NextEra Energy from $82.00 to $84.00 in a research note on Monday, January 27th. Scotiabank boosted their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a research note on Thursday, December 12th. Jefferies Financial Group lowered their price objective on shares of NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy from $90.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and a consensus price target of $85.92.

NextEra Energy Stock Down 0.3 %

Shares of NEE stock opened at $70.92 on Thursday. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. NextEra Energy has a 1 year low of $61.30 and a 1 year high of $86.10. The firm’s fifty day moving average price is $70.62 and its two-hundred day moving average price is $75.53. The firm has a market capitalization of $145.87 billion, a P/E ratio of 21.04, a PEG ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. On average, equities analysts predict that NextEra Energy will post 3.68 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s dividend payout ratio is 67.06%.

Insider Transactions at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the completion of the sale, the chief accounting officer now owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NextEra Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Chancellor Financial Group WB LP acquired a new position in NextEra Energy during the 4th quarter worth approximately $2,866,000. Objective Capital Management LLC increased its position in NextEra Energy by 10.7% during the 4th quarter. Objective Capital Management LLC now owns 3,707 shares of the utilities provider’s stock worth $266,000 after purchasing an additional 357 shares in the last quarter. Triton Wealth Management PLLC increased its position in NextEra Energy by 2.4% during the 4th quarter. Triton Wealth Management PLLC now owns 8,721 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 208 shares in the last quarter. 111 Capital acquired a new position in NextEra Energy during the 4th quarter worth approximately $305,000. Finally, NorthCrest Asset Manangement LLC increased its position in NextEra Energy by 0.8% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 41,653 shares of the utilities provider’s stock worth $2,986,000 after purchasing an additional 320 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors and hedge funds.

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.