NextEra Energy (NYSE:NEE) Now Covered by Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage of NextEra Energy with a "buy" rating and a price target of $98.00, indicating a potential upside of 14.32% from the previous close.
• The company's latest quarterly earnings report showed an EPS of $1.05, exceeding analysts' expectations, with a year-over-year revenue growth of 10.4% despite reporting lower revenue than consensus estimates.
• Insider trading activity has been noted, with executives selling significant shares recently, and institutional investors currently owning approximately 78.72% of NextEra Energy's stock.

TD Cowen assumed coverage on shares of NextEra Energy (NYSE:NEE - Get Free Report) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $98.00 price target on the utilities provider's stock. TD Cowen's price objective would indicate a potential upside of 14.32% from the company's previous close.

Several other research analysts have also weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of NextEra Energy in a research note on Tuesday. Jefferies Financial Group restated a "hold" rating and set a $85.00 price objective (up from $77.00) on shares of NextEra Energy in a research note on Tuesday. BMO Capital Markets upped their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Melius initiated coverage on shares of NextEra Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $77.00 price target on the stock. Finally, Evercore ISI set a $92.00 price target on shares of NextEra Energy and gave the company an "outperform" rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.40.

NextEra Energy Stock Up 1.3%

NYSE:NEE opened at $85.73 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.45 and a current ratio of 0.54. The company has a market cap of $176.53 billion, a PE ratio of 29.97, a PEG ratio of 2.86 and a beta of 0.66. NextEra Energy has a 52-week low of $61.72 and a 52-week high of $86.49. The stock has a 50-day simple moving average of $75.05 and a 200 day simple moving average of $72.03.

NextEra Energy (NYSE:NEE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.04. NextEra Energy had a return on equity of 12.31% and a net margin of 22.84%.The business had revenue of $6.70 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. On average, sell-side analysts expect that NextEra Energy will post 3.68 EPS for the current fiscal year.

Insider Activity at NextEra Energy

In other news, EVP Charles E. Sieving sold 11,336 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $80.00, for a total transaction of $906,880.00. Following the completion of the sale, the executive vice president owned 167,481 shares of the company's stock, valued at approximately $13,398,480. This represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Dunne sold 10,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $70.79, for a total transaction of $707,900.00. Following the sale, the executive vice president directly owned 62,064 shares of the company's stock, valued at approximately $4,393,510.56. This trade represents a 13.88% 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 worth $2,446,490 in the last 90 days. Corporate insiders own 0.20% of the company's stock.

Institutional Trading of NextEra Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Avity Investment Management Inc. lifted its stake in NextEra Energy by 1.7% in the 2nd quarter. Avity Investment Management Inc. now owns 506,515 shares of the utilities provider's stock valued at $35,162,000 after purchasing an additional 8,565 shares during the last quarter. Integrity Alliance LLC. lifted its stake in NextEra Energy by 41.8% in the 1st quarter. Integrity Alliance LLC. now owns 25,092 shares of the utilities provider's stock valued at $1,779,000 after purchasing an additional 7,401 shares during the last quarter. Elyxium Wealth LLC bought a new position in NextEra Energy in the 1st quarter valued at approximately $783,000. Czech National Bank lifted its stake in NextEra Energy by 6.5% in the 2nd quarter. Czech National Bank now owns 503,202 shares of the utilities provider's stock valued at $34,932,000 after purchasing an additional 30,878 shares during the last quarter. Finally, Bowman & Co S.C. lifted its stake in NextEra Energy by 2.0% in the 2nd quarter. Bowman & Co S.C. now owns 13,452 shares of the utilities provider's stock valued at $933,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 78.72% 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,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.

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