NextEra Energy (NYSE:NEE) Price Target Raised to $97.00

NextEra Energy (NYSE:NEE) had its price objective upped by Morgan Stanley from $95.00 to $97.00 in a research report sent to investors on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the stock. Evercore ISI cut their price target on shares of NextEra Energy from $84.00 to $79.00 and set an “in-line” rating for the company in a research note on Monday, January 27th. Scotiabank raised their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the stock a “sector outperform” rating in a report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating and set a $89.00 price objective on shares of NextEra Energy in a report on Thursday. BMO Capital Markets raised their price objective on shares of NextEra Energy from $82.00 to $84.00 in a report on Monday, January 27th. Finally, Jefferies Financial Group dropped their price objective on shares of NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, NextEra Energy has an average rating of “Hold” and a consensus price target of $85.92.

NextEra Energy Stock Down 0.3 %

NYSE NEE opened at $70.92 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.38 and a current ratio of 0.47. The firm has a 50-day simple moving average of $70.62 and a 200 day simple moving average of $75.53. NextEra Energy has a twelve month low of $61.30 and a twelve month high of $86.10. The stock has a market cap of $145.87 billion, a PE ratio of 21.04, a PEG ratio of 2.45 and a beta of 0.58.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. On average, research analysts forecast that NextEra Energy will post 3.68 EPS for the current year.

NextEra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.5665 dividend. The ex-dividend date was Friday, February 28th. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. This represents a $2.27 dividend on an annualized basis and a yield of 3.20%. NextEra Energy’s dividend payout ratio (DPR) is presently 67.06%.

Insider Buying and Selling at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the transaction, the chief accounting officer now directly owns 27,427 shares of the company’s stock, valued at approximately $1,867,504.43. This trade represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On NextEra Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of NEE. Chancellor Financial Group WB LP bought a new position in shares of NextEra Energy during the fourth quarter worth $2,866,000. Objective Capital Management LLC boosted its position in shares of NextEra Energy by 10.7% during the fourth quarter. Objective Capital Management LLC now owns 3,707 shares of the utilities provider’s stock worth $266,000 after purchasing an additional 357 shares in the last quarter. Triton Wealth Management PLLC boosted its position in shares of NextEra Energy by 2.4% during the fourth quarter. Triton Wealth Management PLLC now owns 8,721 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 208 shares in the last quarter. 111 Capital bought a new position in shares of NextEra Energy during the fourth quarter worth $305,000. Finally, NorthCrest Asset Manangement LLC boosted its position in shares of NextEra Energy by 0.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 41,653 shares of the utilities provider’s stock worth $2,986,000 after purchasing an additional 320 shares in the last quarter. 78.72% of the stock is 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.