NextEra Energy (NYSE:NEE) Price Target Raised to $98.00 at Wells Fargo & Company

NextEra Energy (NYSE:NEE) had its target price lifted by Wells Fargo & Company from $97.00 to $98.00 in a report released on Tuesday,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities research analysts have also recently commented on the company. New Street Research set a $84.00 price target on NextEra Energy in a research note on Monday, October 13th. Barclays lifted their target price on shares of NextEra Energy from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. HSBC increased their price target on shares of NextEra Energy from $94.00 to $95.00 in a research note on Monday, November 10th. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy from $94.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of NextEra Energy in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.56.

NextEra Energy Trading Down 0.1%

Shares of NYSE:NEE opened at $83.51 on Tuesday. The firm has a fifty day moving average of $82.25 and a two-hundred day moving average of $78.41. The firm has a market capitalization of $173.92 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. NextEra Energy has a 12-month low of $61.72 and a 12-month high of $87.53. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30.

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

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 21st were issued 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 was Friday, November 21st. NextEra Energy’s dividend payout ratio is 72.29%.

Insider Activity at NextEra Energy

In other news, CEO Armando Pimentel, Jr. sold 145,140 shares of NextEra Energy stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $83.91, for a total value of $12,178,697.40. Following the transaction, the chief executive officer directly owned 162,693 shares in the company, valued at approximately $13,651,569.63. The trade was a 47.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Activest Wealth Management increased its holdings in NextEra Energy by 79.7% in the 2nd quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock valued at $25,000 after buying an additional 157 shares during the period. Harbor Asset Planning Inc. acquired a new stake in shares of NextEra Energy during the 2nd quarter valued at about $25,000. Goodman Advisory Group LLC bought a new stake in NextEra Energy in the second quarter valued at about $25,000. Tripletail Wealth Management LLC acquired a new position in NextEra Energy in the third quarter worth about $25,000. Finally, Quaker Wealth Management LLC raised its position in NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 772 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.