NextEra Energy (NYSE:NEE) Given New $98.00 Price Target at Wells Fargo & Company

NextEra Energy (NYSE:NEE) had its target price upped by stock analysts at Wells Fargo & Company from $97.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.13% from the company’s current price.

Other analysts have also issued reports about the company. Evercore ISI reiterated an “outperform” rating and issued a $93.00 price objective on shares of NextEra Energy in a research report on Tuesday, October 28th. HSBC boosted their target price on NextEra Energy from $94.00 to $95.00 in a research report on Monday, November 10th. Cowen started coverage on NextEra Energy in a research report on Wednesday, October 15th. They issued a “buy” rating for the company. Wolfe Research boosted their price objective on shares of NextEra Energy from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Monday, December 1st. Finally, BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of NextEra Energy in a research report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.56.

NextEra Energy Stock Performance

NYSE NEE traded up $0.04 during midday trading on Tuesday, hitting $83.67. The company had a trading volume of 1,867,459 shares, compared to its average volume of 8,365,017. NextEra Energy has a fifty-two week low of $61.72 and a fifty-two week high of $87.53. The company has a quick ratio of 0.45, a current ratio of 0.55 and a debt-to-equity ratio of 1.30. The stock has a market cap of $174.25 billion, a price-to-earnings ratio of 26.65, a P/E/G ratio of 2.59 and a beta of 0.74. The firm has a fifty day simple moving average of $82.29 and a two-hundred day simple moving average of $78.34.

NextEra Energy (NYSE:NEE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $8.13 billion. NextEra Energy had a return on equity of 12.42% and a net margin of 24.72%.NextEra Energy’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Equities analysts forecast that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NextEra Energy news, CEO Armando Pimentel, Jr. sold 145,140 shares of NextEra Energy stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $83.91, for a total value of $12,178,697.40. Following the completion of the sale, the chief executive officer owned 162,693 shares in the company, valued at $13,651,569.63. The trade was a 47.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEE. Vanguard Group Inc. grew its holdings in shares of NextEra Energy by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 213,799,521 shares of the utilities provider’s stock valued at $16,139,726,000 after purchasing an additional 922,500 shares during the last quarter. Geode Capital Management LLC raised its position in NextEra Energy by 1.2% in the second quarter. Geode Capital Management LLC now owns 45,724,229 shares of the utilities provider’s stock valued at $3,161,774,000 after purchasing an additional 526,996 shares during the last quarter. Norges Bank acquired a new stake in NextEra Energy during the 2nd quarter worth approximately $2,375,545,000. Legal & General Group Plc grew its stake in shares of NextEra Energy by 2.3% in the third quarter. Legal & General Group Plc now owns 16,787,191 shares of the utilities provider’s stock worth $1,267,265,000 after purchasing an additional 373,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NextEra Energy by 2.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 16,786,728 shares of the utilities provider’s stock valued at $1,165,896,000 after buying an additional 340,315 shares during the last quarter. Institutional investors own 78.72% of the company’s stock.

NextEra Energy Company Profile

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.