NextEra Energy (NYSE:NEE) Given New $225.00 Price Target at Bank of America

NextEra Energy (NYSE:NEE) had its target price upped by Bank of America from $215.00 to $225.00 in a report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research raised NextEra Energy from a hold rating to a buy rating and set a $213.00 target price for the company in a research note on Thursday, April 25th. Credit Suisse Group set a $199.00 target price on NextEra Energy and gave the stock a buy rating in a research note on Monday, April 22nd. Goldman Sachs Group downgraded NextEra Energy from a conviction-buy rating to a buy rating and set a $194.00 target price for the company. in a research note on Monday, April 8th. UBS Group raised their target price on NextEra Energy from $225.00 to $236.00 and gave the stock a buy rating in a research note on Friday, June 7th. Finally, Barclays reaffirmed a buy rating and issued a $218.00 target price on shares of NextEra Energy in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $208.14.

NYSE NEE opened at $204.86 on Tuesday. The company has a fifty day moving average price of $201.93. NextEra Energy has a one year low of $163.51 and a one year high of $208.91. The company has a current ratio of 0.46, a quick ratio of 0.38 and a debt-to-equity ratio of 0.79. The firm has a market cap of $97.97 billion, a P/E ratio of 26.61, a P/E/G ratio of 3.03 and a beta of 0.26.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $2.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.19. NextEra Energy had a return on equity of 10.26% and a net margin of 17.13%. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the company earned $1.94 EPS. On average, research analysts predict that NextEra Energy will post 8.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, May 31st. NextEra Energy’s dividend payout ratio is presently 64.94%.

In other news, Director James L. Robo sold 44,537 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $195.20, for a total transaction of $8,693,622.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Ketchum sold 15,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $204.50, for a total value of $3,067,500.00. Following the transaction, the chief executive officer now owns 21,137 shares of the company’s stock, valued at $4,322,516.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,216 shares of company stock valued at $21,336,558. Company insiders own 0.48% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in NextEra Energy by 5.6% in the fourth quarter. Advisors Asset Management Inc. now owns 136,679 shares of the utilities provider’s stock worth $23,758,000 after acquiring an additional 7,252 shares during the period. Gantzert Investment Co. LLC ADV bought a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $3,854,000. Buckingham Capital Management Inc. raised its position in shares of NextEra Energy by 0.9% in the fourth quarter. Buckingham Capital Management Inc. now owns 13,307 shares of the utilities provider’s stock valued at $2,313,000 after purchasing an additional 120 shares during the period. Comerica Securities Inc. raised its position in shares of NextEra Energy by 98.4% in the fourth quarter. Comerica Securities Inc. now owns 3,628 shares of the utilities provider’s stock valued at $631,000 after purchasing an additional 1,799 shares during the period. Finally, Eaton Vance Management raised its position in shares of NextEra Energy by 1.0% in the fourth quarter. Eaton Vance Management now owns 2,012,918 shares of the utilities provider’s stock valued at $349,885,000 after purchasing an additional 19,150 shares during the period. Institutional investors and hedge funds own 75.83% 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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.

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