NextEra Energy (NYSE:NEE) Hits New 1-Year High Following Analyst Upgrade

NextEra Energy, Inc. (NYSE:NEE)’s stock price reached a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $95.00 to $102.00. Wells Fargo & Company currently has an overweight rating on the stock. NextEra Energy traded as high as $81.22 and last traded at $80.99, with a volume of 563549 shares trading hands. The stock had previously closed at $79.93.

Several other equities analysts have also commented on the company. Mizuho lowered NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 target price on the stock. in a report on Wednesday, June 12th. Citigroup raised their price objective on NextEra Energy from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Evercore ISI raised their price objective on NextEra Energy from $70.00 to $75.00 and gave the stock an “in-line” rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America raised their price objective on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.50.

Insider Activity at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

Institutional investors have recently added to or reduced their stakes in the company. Janney Capital Management LLC lifted its holdings in NextEra Energy by 9.5% in the 4th quarter. Janney Capital Management LLC now owns 46,673 shares of the utilities provider’s stock worth $2,835,000 after buying an additional 4,047 shares in the last quarter. Intech Investment Management LLC lifted its holdings in NextEra Energy by 35.7% in the 1st quarter. Intech Investment Management LLC now owns 100,308 shares of the utilities provider’s stock worth $6,411,000 after buying an additional 26,382 shares in the last quarter. Camden National Bank lifted its holdings in NextEra Energy by 10.2% in the 4th quarter. Camden National Bank now owns 156,631 shares of the utilities provider’s stock worth $9,514,000 after buying an additional 14,477 shares in the last quarter. Ancora Advisors LLC lifted its holdings in NextEra Energy by 10.6% in the 1st quarter. Ancora Advisors LLC now owns 79,994 shares of the utilities provider’s stock worth $5,112,000 after buying an additional 7,677 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its holdings in NextEra Energy by 2.5% in the 4th quarter. TrinityPoint Wealth LLC now owns 20,898 shares of the utilities provider’s stock worth $1,269,000 after buying an additional 507 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

NextEra Energy Price Performance

The company’s 50-day moving average price is $75.82 and its two-hundred day moving average price is $70.07. The company has a market cap of $166.58 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same quarter in the previous year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that NextEra Energy, Inc. will post 3.39 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, August 30th. NextEra Energy’s payout ratio is currently 56.13%.

NextEra Energy Company Profile

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.