BMO Capital Markets Raises NextEra Energy (NYSE:NEE) Price Target to $91.00

NextEra Energy (NYSE:NEE) had its price target lifted by BMO Capital Markets from $83.00 to $91.00 in a report published on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the utilities provider’s stock.

Several other equities analysts have also issued reports on NEE. Wells Fargo & Company boosted their price target on NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Scotiabank raised their target price on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective for the company. Barclays lifted their target price on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Finally, Bank of America increased their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Hold” and an average price target of $83.64.

NextEra Energy Stock Performance

NEE opened at $84.38 on Friday. NextEra Energy has a 12-month low of $50.95 and a 12-month high of $86.10. The firm has a market capitalization of $173.36 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The stock’s 50 day moving average price is $81.81 and its two-hundred day moving average price is $75.44. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15.

NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the prior year, the company earned $0.88 EPS. On average, equities analysts forecast that NextEra Energy will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.44%. NextEra Energy’s dividend payout ratio is presently 56.13%.

Insider Activity

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the transaction, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On NextEra Energy

Hedge funds have recently added to or reduced their stakes in the company. Violich Capital Management Inc. grew its position in shares of NextEra Energy by 2.1% during the 3rd quarter. Violich Capital Management Inc. now owns 54,700 shares of the utilities provider’s stock worth $4,624,000 after buying an additional 1,100 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in NextEra Energy by 8.5% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 110,682 shares of the utilities provider’s stock worth $9,356,000 after acquiring an additional 8,661 shares during the period. Cedrus LLC raised its position in shares of NextEra Energy by 20.9% during the 3rd quarter. Cedrus LLC now owns 4,686 shares of the utilities provider’s stock valued at $396,000 after acquiring an additional 810 shares during the last quarter. New Century Financial Group LLC lifted its stake in shares of NextEra Energy by 37.3% in the 3rd quarter. New Century Financial Group LLC now owns 11,481 shares of the utilities provider’s stock valued at $971,000 after purchasing an additional 3,116 shares during the period. Finally, Resonant Capital Advisors LLC grew its stake in shares of NextEra Energy by 6.7% during the third quarter. Resonant Capital Advisors LLC now owns 5,883 shares of the utilities provider’s stock worth $497,000 after purchasing an additional 368 shares during the period. Institutional investors 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.