NextEra Energy (NEE) Rating Increased to Buy at Zacks Investment Research

NextEra Energy (NYSE:NEE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $172.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.48% from the company’s current price.

According to Zacks, “Shares of NextEra Energy have gained against the industry’s loss in the past 12 months. NextEra Energy’s investment to strengthen its infrastructure and ongoing capital projects, when completed, will help it serve its expanding customer base more efficiently. The company’s focus on clean energy has helped it lower emission levels, and use of new technology has saved on energy bills for its customers. The natural gas pipelines, which came online in first half of 2017, are expected to boost its performance. The company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Despite investments made to strengthen its infrastructure the unpredictable nature of natural disaster could derail normal operation and impact profitability.”

A number of other analysts also recently weighed in on the stock. Morgan Stanley raised their price target on shares of NextEra Energy from $173.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Bank of America started coverage on shares of NextEra Energy in a research report on Tuesday, October 24th. They set a “buy” rating and a $166.00 price target for the company. Argus reissued a “buy” rating and set a $173.00 price target on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. Guggenheim reissued a “buy” rating and set a $177.00 price target on shares of NextEra Energy in a research report on Wednesday, January 3rd. Finally, Credit Suisse Group started coverage on shares of NextEra Energy in a research report on Thursday, December 7th. They set an “outperform” rating and a $173.00 price target for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $161.56.

Shares of NextEra Energy (NYSE:NEE) traded up $0.48 during trading hours on Wednesday, reaching $154.29. 542,275 shares of the company’s stock traded hands, compared to its average volume of 2,242,942. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.64 and a quick ratio of 0.52. NextEra Energy has a one year low of $127.09 and a one year high of $159.64. The firm has a market capitalization of $72,550.00, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.28.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Friday, January 26th. The utilities provider reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.06). NextEra Energy had a return on equity of 11.50% and a net margin of 31.28%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. equities research analysts anticipate that NextEra Energy will post 7.68 EPS for the current year.

In related news, CEO Armando Pimentel, Jr. sold 42,372 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the transaction, the chief executive officer now directly owns 121,958 shares in the company, valued at $19,202,287.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Armando Pimentel, Jr. sold 9,250 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $151.83, for a total value of $1,404,427.50. The disclosure for this sale can be found here. Insiders have sold 54,466 shares of company stock worth $8,515,780 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in NextEra Energy by 2,832.8% in the second quarter. Janus Henderson Group PLC now owns 1,800,376 shares of the utilities provider’s stock valued at $252,287,000 after buying an additional 1,738,989 shares during the last quarter. Vanguard Group Inc. lifted its stake in NextEra Energy by 4.6% in the second quarter. Vanguard Group Inc. now owns 34,147,719 shares of the utilities provider’s stock valued at $4,785,120,000 after buying an additional 1,503,907 shares during the last quarter. Millennium Management LLC lifted its stake in NextEra Energy by 243.4% in the fourth quarter. Millennium Management LLC now owns 1,465,988 shares of the utilities provider’s stock valued at $228,973,000 after buying an additional 1,039,072 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in NextEra Energy by 104.7% in the fourth quarter. Standard Life Aberdeen plc now owns 1,666,351 shares of the utilities provider’s stock valued at $260,326,000 after buying an additional 852,434 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in NextEra Energy by 26.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,724,367 shares of the utilities provider’s stock valued at $548,102,000 after buying an additional 777,351 shares during the last quarter. Hedge funds and other institutional investors own 75.50% of the company’s stock.

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NextEra Energy Company Profile

NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.

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