NextEra Energy (NYSE:NEE) Price Target Raised to $91.00

NextEra Energy (NYSE:NEE) had its target price lifted by JPMorgan Chase & Co. from $90.00 to $91.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other research firms also recently weighed in on NEE. Scotiabank raised their price objective on NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group cut their price objective on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. BMO Capital Markets raised their price objective on NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Evercore ISI cut their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Finally, Morgan Stanley raised their price objective on NextEra Energy from $93.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.92.

NextEra Energy Stock Performance

Shares of NYSE NEE opened at $72.70 on Tuesday. NextEra Energy has a 52 week low of $58.88 and a 52 week high of $86.10. The stock has a market capitalization of $149.55 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.58. The stock has a 50 day moving average price of $70.48 and a 200 day moving average price of $75.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Analysts predict that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $0.5665 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Friday, February 28th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.52. NextEra Energy’s payout ratio is 67.06%.

Insiders Place Their Bets

In other news, CAO James Michael May sold 2,383 shares of NextEra Energy stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total transaction of $162,258.47. Following the transaction, the chief accounting officer now owns 27,427 shares in the company, valued at $1,867,504.43. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Second Line Capital LLC raised its position in shares of NextEra Energy by 4.7% during the 3rd quarter. Second Line Capital LLC now owns 3,097 shares of the utilities provider’s stock valued at $262,000 after buying an additional 139 shares in the last quarter. Drive Wealth Management LLC raised its position in shares of NextEra Energy by 2.8% during the 3rd quarter. Drive Wealth Management LLC now owns 5,332 shares of the utilities provider’s stock valued at $451,000 after buying an additional 145 shares in the last quarter. Accel Wealth Management raised its position in shares of NextEra Energy by 1.7% during the 4th quarter. Accel Wealth Management now owns 8,615 shares of the utilities provider’s stock valued at $618,000 after buying an additional 145 shares in the last quarter. L.M. Kohn & Company raised its position in shares of NextEra Energy by 1.0% during the 4th quarter. L.M. Kohn & Company now owns 15,353 shares of the utilities provider’s stock valued at $1,101,000 after buying an additional 145 shares in the last quarter. Finally, 1ST Source Bank raised its position in shares of NextEra Energy by 0.4% during the 3rd quarter. 1ST Source Bank now owns 34,178 shares of the utilities provider’s stock valued at $2,889,000 after buying an additional 147 shares in the last quarter. Hedge funds and other 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.