NextEra Energy (NYSE:NEE) PT Raised to $84.00 at Citigroup

NextEra Energy (NYSE:NEE) had its price target lifted by Citigroup from $69.00 to $84.00 in a research report released on Thursday, Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Several other brokerages also recently commented on NEE. StockNews.com upgraded shares of NextEra Energy from a sell rating to a hold rating in a research report on Thursday, May 2nd. Wells Fargo & Company restated an overweight rating and set a $95.00 price objective on shares of NextEra Energy in a research report on Wednesday, June 12th. Bank of America raised their price objective on shares of NextEra Energy from $61.00 to $67.00 and gave the company a neutral rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy from $76.00 to $90.00 and gave the company an overweight rating in a research report on Thursday, June 20th. Finally, BMO Capital Markets raised their price objective on shares of NextEra Energy from $78.00 to $79.00 and gave the company an outperform rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, NextEra Energy presently has a consensus rating of Moderate Buy and a consensus target price of $77.57.

NextEra Energy Stock Down 3.9 %

NEE opened at $70.81 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. NextEra Energy has a 1-year low of $47.15 and a 1-year high of $80.47. The company has a market capitalization of $145.48 billion, a PE ratio of 19.29, a PEG ratio of 2.42 and a beta of 0.56. The firm’s 50 day simple moving average is $73.25 and its two-hundred day simple moving average is $64.52.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the firm earned $0.84 earnings per share. The company’s quarterly revenue was down 14.7% on a year-over-year basis. As a group, equities analysts forecast that NextEra Energy will post 3.4 EPS for the current year.

NextEra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.515 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.91%. NextEra Energy’s payout ratio is currently 56.13%.

Hedge Funds Weigh In On NextEra Energy

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NextEra Energy by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 198,430,172 shares of the utilities provider’s stock valued at $11,368,065,000 after buying an additional 1,956,153 shares in the last quarter. Norges Bank purchased a new stake in shares of NextEra Energy in the 4th quarter valued at $2,561,055,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of NextEra Energy by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,782,674 shares of the utilities provider’s stock valued at $654,940,000 after acquiring an additional 429,979 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of NextEra Energy by 22.3% in the 1st quarter. Nordea Investment Management AB now owns 6,961,556 shares of the utilities provider’s stock valued at $443,834,000 after acquiring an additional 1,268,900 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of NextEra Energy by 10.5% in the 4th quarter. 1832 Asset Management L.P. now owns 6,631,121 shares of the utilities provider’s stock valued at $402,774,000 after purchasing an additional 629,032 shares during the period. 78.72% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Company Profile

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.