NextEra Energy (NYSE:NEE) Price Target Increased to $67.00 by Analysts at Bank of America

NextEra Energy (NYSE:NEE - Free Report) had its target price lifted by Bank of America from $61.00 to $67.00 in a research report sent to investors on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the utilities provider's stock.

A number of other equities analysts also recently weighed in on NEE. Guggenheim increased their price target on shares of NextEra Energy from $70.00 to $80.00 and gave the stock a buy rating in a research note on Monday, January 22nd. Wells Fargo & Company increased their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a research note on Tuesday, March 19th. Mizuho reaffirmed a buy rating and set a $67.00 price target (up previously from $65.00) on shares of NextEra Energy in a research note on Friday, March 15th. Scotiabank increased their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a sector outperform rating in a research note on Monday. Finally, Barclays assumed coverage on shares of NextEra Energy in a research note on Wednesday, April 10th. They set an equal weight rating and a $66.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $70.93.

NextEra Energy Trading Up 1.3 %

NYSE NEE traded up $0.87 during mid-day trading on Tuesday, reaching $66.18. 14,348,517 shares of the stock were exchanged, compared to its average volume of 11,940,309. NextEra Energy has a 1-year low of $47.15 and a 1-year high of $79.25. The business's fifty day simple moving average is $60.04 and its 200 day simple moving average is $58.72. The stock has a market capitalization of $135.83 billion, a PE ratio of 18.34, a PEG ratio of 2.31 and a beta of 0.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.47 and a current ratio of 0.55.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.11. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter last year, the business earned $0.84 earnings per share. NextEra Energy's revenue was down 14.7% compared to the same quarter last year. On average, research analysts anticipate that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Monday, February 26th. This is an increase from NextEra Energy's previous quarterly dividend of $0.47. NextEra Energy's dividend payout ratio is 57.06%.

Institutional Investors Weigh In On NextEra Energy

Hedge funds have recently made changes to their positions in the company. GSG Advisors LLC increased its stake in shares of NextEra Energy by 2.6% during the 1st quarter. GSG Advisors LLC now owns 6,509 shares of the utilities provider's stock worth $407,000 after purchasing an additional 162 shares during the last quarter. Greenfield Savings Bank increased its position in shares of NextEra Energy by 0.5% during the 4th quarter. Greenfield Savings Bank now owns 32,220 shares of the utilities provider's stock worth $1,957,000 after purchasing an additional 163 shares in the last quarter. Bay Harbor Wealth Management LLC increased its position in shares of NextEra Energy by 22.7% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 930 shares of the utilities provider's stock worth $56,000 after purchasing an additional 172 shares in the last quarter. MKT Advisors LLC increased its position in NextEra Energy by 2.9% in the 4th quarter. MKT Advisors LLC now owns 6,233 shares of the utilities provider's stock valued at $387,000 after acquiring an additional 173 shares in the last quarter. Finally, Meritage Portfolio Management increased its position in NextEra Energy by 3.9% in the 3rd quarter. Meritage Portfolio Management now owns 4,701 shares of the utilities provider's stock valued at $269,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other 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.