NextEra Energy (NYSE:NEE) Rating Increased to Strong-Buy at TD Cowen

NextEra Energy (NYSE:NEE) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also commented on NEE. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $86.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, August 22nd. Barclays raised their price objective on NextEra Energy from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. BMO Capital Markets raised their target price on NextEra Energy from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Weiss Ratings restated a “hold (c+)” rating on shares of NextEra Energy in a research report on Tuesday. Finally, Melius began coverage on NextEra Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $77.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.40.

NextEra Energy Stock Down 0.9%

Shares of NEE opened at $85.00 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.36. NextEra Energy has a 12 month low of $61.72 and a 12 month high of $86.74. The stock’s 50 day moving average is $75.30 and its two-hundred day moving average is $72.13. The firm has a market cap of $175.04 billion, a P/E ratio of 29.72, a PEG ratio of 2.90 and a beta of 0.66.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period last year, the company earned $0.96 earnings per share. NextEra Energy’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts predict that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Mark Lemasney sold 846 shares of NextEra Energy stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $74.90, for a total transaction of $63,365.40. Following the transaction, the executive vice president owned 9,267 shares in the company, valued at approximately $694,098.30. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Charles E. Sieving sold 11,336 shares of NextEra Energy stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $80.00, for a total value of $906,880.00. Following the transaction, the executive vice president owned 167,481 shares in the company, valued at approximately $13,398,480. The trade was a 6.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,705 shares of company stock valued at $2,446,490 in the last 90 days. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On NextEra Energy

Institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management lifted its position in NextEra Energy by 79.7% during the second quarter. Activest Wealth Management now owns 354 shares of the utilities provider’s stock worth $25,000 after buying an additional 157 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in NextEra Energy in the second quarter valued at $25,000. Goodman Advisory Group LLC purchased a new stake in NextEra Energy in the second quarter valued at $25,000. 1 North Wealth Services LLC purchased a new stake in NextEra Energy in the first quarter valued at $26,000. Finally, Quaker Wealth Management LLC raised its position in NextEra Energy by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 386 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 772 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.

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.