BMO Capital Markets Increases NextEra Energy (NYSE:NEE) Price Target to $78.00

NextEra Energy (NYSE:NEE) had its price objective boosted by equities research analysts at BMO Capital Markets from $72.00 to $78.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 7.08% from the stock’s current price.

A number of other brokerages also recently weighed in on NEE. Mizuho raised their target price on NextEra Energy from $67.00 to $71.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley lifted their target price on NextEra Energy from $77.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Scotiabank increased their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $74.00 price target on shares of NextEra Energy in a report on Tuesday, January 30th. Finally, Guggenheim upped their price objective on shares of NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $71.93.

NextEra Energy Stock Up 1.2 %

NEE stock opened at $72.84 on Tuesday. NextEra Energy has a 52 week low of $47.15 and a 52 week high of $78.53. The business has a 50-day simple moving average of $62.65 and a 200 day simple moving average of $59.94. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The company has a market cap of $149.65 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.58 and a beta of 0.50.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. Sell-side analysts anticipate that NextEra Energy will post 3.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Avitas Wealth Management LLC boosted its stake in shares of NextEra Energy by 2.9% in the 4th quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider’s stock valued at $2,299,000 after purchasing an additional 1,057 shares during the last quarter. Stiles Financial Services Inc grew its holdings in NextEra Energy by 9.0% during the 4th quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider’s stock worth $2,137,000 after acquiring an additional 2,899 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of NextEra Energy by 1.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider’s stock worth $21,995,000 after acquiring an additional 6,325 shares in the last quarter. Asio Capital LLC acquired a new position in shares of NextEra Energy in the 4th quarter valued at about $2,701,000. Finally, AJOVista LLC bought a new stake in shares of NextEra Energy during the 4th quarter valued at about $162,000. 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.