NextEra Energy’s (NEE) “Hold” Rating Reaffirmed at Evercore ISI

NextEra Energy (NYSE:NEEGet Rating)‘s stock had its “hold” rating reiterated by investment analysts at Evercore ISI in a research note issued on Friday, TipRanks reports. They currently have a $90.00 price objective on the utilities provider’s stock. Evercore ISI’s price target indicates a potential upside of 21.70% from the company’s previous close.

Several other brokerages have also recently weighed in on NEE. Zacks Investment Research upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a research note on Tuesday, March 29th. StockNews.com assumed coverage on shares of NextEra Energy in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley lifted their price target on shares of NextEra Energy from $84.00 to $88.00 and gave the company an “equal weight” rating in a report on Wednesday. Mizuho reduced their price target on shares of NextEra Energy from $91.00 to $88.00 in a report on Monday, January 24th. Finally, Wells Fargo & Company lifted their price target on shares of NextEra Energy from $102.00 to $107.00 and gave the company an “overweight” rating in a report on Monday, April 18th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Buy” and an average target price of $90.22.

NEE traded down $2.23 during midday trading on Friday, reaching $73.95. The company’s stock had a trading volume of 15,284,830 shares, compared to its average volume of 10,365,467. The stock’s 50-day moving average is $80.93 and its 200-day moving average is $83.40. NextEra Energy has a 1 year low of $69.79 and a 1 year high of $93.73. The company has a current ratio of 0.53, a quick ratio of 0.44 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $145.27 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 3.34 and a beta of 0.38.

NextEra Energy (NYSE:NEEGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The utilities provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.03. NextEra Energy had a net margin of 20.93% and a return on equity of 11.10%. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, equities research analysts forecast that NextEra Energy will post 2.81 earnings per share for the current fiscal year.

In other news, Director Naren K. Gursahaney bought 2,000 shares of the company’s stock in a transaction on Thursday, January 27th. The stock was bought at an average cost of $73.62 per share, with a total value of $147,240.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO James L. Robo bought 64,691 shares of the company’s stock in a transaction on Monday, January 31st. The stock was purchased at an average cost of $77.26 per share, with a total value of $4,998,026.66. The disclosure for this purchase can be found here. Insiders acquired a total of 73,691 shares of company stock worth $5,648,077 in the last 90 days. 0.43% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Jackson Wealth Management LLC lifted its stake in NextEra Energy by 275.6% in the third quarter. Jackson Wealth Management LLC now owns 71,561 shares of the utilities provider’s stock valued at $28,000 after buying an additional 52,510 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in NextEra Energy by 295.5% in the first quarter. Contravisory Investment Management Inc. now owns 348 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 260 shares during the last quarter. PFG Private Wealth Management LLC purchased a new position in NextEra Energy during the third quarter worth about $31,000. Northwest Investment Counselors LLC acquired a new stake in NextEra Energy during the 4th quarter valued at approximately $31,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of NextEra Energy in the 4th quarter worth approximately $34,000. 75.89% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Company Profile (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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