NextEra Energy (NYSE:NEE) Given New $94.00 Price Target at Wolfe Research

NextEra Energy (NYSE:NEE) had its target price boosted by Wolfe Research from $87.00 to $94.00 in a research report sent to investors on Monday morning,MarketScreener reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

Other equities research analysts have also issued research reports about the company. BTIG Research reiterated a “buy” rating on shares of NextEra Energy in a research note on Monday, October 27th. HSBC upped their price target on NextEra Energy from $94.00 to $95.00 in a report on Monday, November 10th. Argus set a $90.00 price objective on shares of NextEra Energy in a research report on Wednesday, October 29th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 target price (up from $77.00) on shares of NextEra Energy in a research report on Tuesday, October 14th. Finally, Cowen initiated coverage on shares of NextEra Energy in a research note on Wednesday, October 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

NextEra Energy Trading Down 1.9%

NYSE NEE opened at $84.63 on Monday. The firm has a market capitalization of $176.25 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 2.76 and a beta of 0.69. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.45 and a current ratio of 0.55. NextEra Energy has a one year low of $61.72 and a one year high of $87.53. The company’s 50 day moving average price is $82.58 and its 200 day moving average price is $75.91.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.09. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $8.13 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that NextEra Energy will post 3.68 EPS for the current year.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 21st will be paid a dividend of $0.5665 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, November 21st. NextEra Energy’s dividend payout ratio is 71.97%.

Insider Activity at NextEra Energy

In related news, EVP Michael Dunne sold 10,000 shares of NextEra Energy stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $70.79, for a total value of $707,900.00. Following the completion of the transaction, the executive vice president directly owned 62,064 shares in the company, valued at approximately $4,393,510.56. This trade represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Lemasney sold 846 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $74.90, for a total value of $63,365.40. Following the completion of the sale, the executive vice president directly owned 9,267 shares of the company’s stock, valued at approximately $694,098.30. This represents a 8.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 168,168 shares of company stock worth $13,917,670 over the last quarter. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in NextEra Energy during the second quarter valued at $2,375,545,000. GQG Partners LLC lifted its position in shares of NextEra Energy by 58.4% in the 1st quarter. GQG Partners LLC now owns 17,236,502 shares of the utilities provider’s stock worth $1,221,896,000 after buying an additional 6,352,798 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NextEra Energy by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 212,877,021 shares of the utilities provider’s stock valued at $14,777,923,000 after buying an additional 5,554,603 shares during the period. Assenagon Asset Management S.A. grew its position in shares of NextEra Energy by 1,765.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,968,305 shares of the utilities provider’s stock valued at $299,567,000 after buying an additional 3,755,563 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NextEra Energy by 20.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 16,446,413 shares of the utilities provider’s stock valued at $1,165,748,000 after buying an additional 2,815,629 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

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.