Morgan Stanley Increases NextEra Energy (NYSE:NEE) Price Target to $88.00

NextEra Energy (NYSE:NEEGet Rating) had its price target boosted by stock analysts at Morgan Stanley from $84.00 to $88.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 7.55% from the stock’s previous close.

A number of other brokerages have also weighed in on NEE. Mizuho decreased their price target on shares of NextEra Energy from $91.00 to $88.00 in a research note on Monday, January 24th. Wells Fargo & Company raised their target price on shares of NextEra Energy from $102.00 to $107.00 and gave the stock an “overweight” rating in a research note on Monday. StockNews.com started coverage on shares of NextEra Energy in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Tuesday, March 29th. Finally, KeyCorp raised their target price on shares of NextEra Energy from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, April 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, NextEra Energy presently has an average rating of “Buy” and a consensus price target of $90.25.

Shares of NYSE:NEE traded down $0.01 during trading on Wednesday, reaching $81.82. 94,878 shares of the company’s stock traded hands, compared to its average volume of 10,225,485. NextEra Energy has a fifty-two week low of $69.79 and a fifty-two week high of $93.73. The company has a quick ratio of 0.44, a current ratio of 0.53 and a debt-to-equity ratio of 1.12. The firm has a market cap of $160.73 billion, a PE ratio of 45.20, a P/E/G ratio of 3.34 and a beta of 0.38. The company has a 50-day simple moving average of $80.80 and a 200-day simple moving average of $83.47.

NextEra Energy (NYSE:NEEGet Rating) last posted its earnings results on Tuesday, January 25th. The utilities provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. NextEra Energy had a return on equity of 11.10% and a net margin of 20.93%. The firm had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.79 billion. During the same period last year, the firm earned $0.40 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts forecast that NextEra Energy will post 2.81 EPS for the current year.

In other NextEra Energy news, CEO James L. Robo acquired 64,691 shares of the stock in a transaction dated Monday, January 31st. The stock was acquired at an average cost of $77.26 per share, with a total value of $4,998,026.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Rebecca J. Kujawa acquired 7,000 shares of the stock in a transaction dated Friday, January 28th. The shares were acquired at an average cost of $71.83 per share, with a total value of $502,810.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 73,691 shares of company stock valued at $5,648,077 over the last three months. 0.43% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of NEE. Northwest Investment Counselors LLC acquired a new stake in shares of NextEra Energy in the 4th quarter worth approximately $31,000. Contravisory Investment Management Inc. grew its holdings in shares of NextEra Energy by 295.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 260 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of NextEra Energy in the 4th quarter worth approximately $37,000. PFG Private Wealth Management LLC acquired a new stake in NextEra Energy during the 3rd quarter valued at $31,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in NextEra Energy during the 4th quarter valued at $34,000. 75.89% of the stock is owned by institutional investors and hedge funds.

About NextEra Energy (Get Rating)

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, coal, and natural gas facilities. 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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