NextEra Energy (NYSE:NEE) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

NextEra Energy (NYSE:NEE) had its target price boosted by research analysts at JPMorgan Chase & Co. from $90.00 to $91.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 24.60% from the company’s previous close.

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

NextEra Energy Trading Down 1.3 %

Shares of NextEra Energy stock opened at $73.03 on Tuesday. The company’s fifty day simple moving average is $70.46 and its 200-day simple moving average is $75.95. The company has a market cap of $150.23 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.45 and a beta of 0.58. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20. NextEra Energy has a 1 year low of $58.88 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last issued its earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. As a group, sell-side analysts expect that NextEra Energy will post 3.68 EPS for the current year.

Insiders Place Their Bets

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 of the company’s stock, valued at $1,867,504.43. The trade was a 7.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NEE. Norges Bank bought a new position in shares of NextEra Energy during the 4th quarter worth approximately $3,484,197,000. Boston Partners bought a new position in shares of NextEra Energy during the 4th quarter worth approximately $244,169,000. Two Sigma Advisers LP bought a new position in shares of NextEra Energy during the 4th quarter worth approximately $240,269,000. Amundi boosted its stake in shares of NextEra Energy by 49.8% during the 4th quarter. Amundi now owns 9,543,552 shares of the utilities provider’s stock worth $676,008,000 after acquiring an additional 3,172,405 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of NextEra Energy by 46.7% during the 4th quarter. California Public Employees Retirement System now owns 7,910,346 shares of the utilities provider’s stock worth $567,093,000 after acquiring an additional 2,517,369 shares during the period. 78.72% of the stock is currently owned by institutional investors.

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.