BMO Capital Markets Boosts NextEra Energy (NYSE:NEE) Price Target to $78.00

NextEra Energy (NYSE:NEE - Free Report) had its price objective increased by BMO Capital Markets from $72.00 to $78.00 in a research report released on Tuesday, Benzinga reports. They currently have an outperform rating on the utilities provider's stock.

Several other brokerages have also recently weighed in on NEE. StockNews.com upgraded NextEra Energy from a sell rating to a hold rating in a research report on Thursday, May 2nd. Mizuho boosted their price objective on NextEra Energy from $67.00 to $71.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Wells Fargo & Company boosted their price objective on NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. Royal Bank of Canada reissued an outperform rating and set a $74.00 price objective on shares of NextEra Energy in a report on Tuesday, January 30th. Finally, Morgan Stanley boosted their price objective on NextEra Energy from $77.00 to $79.00 and gave the stock an overweight rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $71.93.

NextEra Energy Stock Performance

NextEra Energy stock traded up $0.70 during midday trading on Tuesday, reaching $71.95. The stock had a trading volume of 13,416,327 shares, compared to its average volume of 11,931,911. The firm's 50-day moving average price is $62.65 and its 200 day moving average price is $59.94. NextEra Energy has a 12 month low of $47.15 and a 12 month high of $78.53. The firm has a market capitalization of $147.82 billion, a PE ratio of 19.60, a P/E/G ratio of 2.58 and a beta of 0.50. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same period in the prior year, the business posted $0.84 earnings per share. The company's revenue was down 14.7% on a year-over-year basis. As a group, research analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a $0.515 dividend. The ex-dividend date was Monday, February 26th. This represents a $2.06 annualized dividend and a yield of 2.86%. This is an increase from NextEra Energy's previous quarterly dividend of $0.47. NextEra Energy's payout ratio is presently 56.13%.

Institutional Trading of NextEra Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avitas Wealth Management LLC lifted its position in NextEra Energy by 2.9% in the fourth quarter. Avitas Wealth Management LLC now owns 37,843 shares of the utilities provider's stock valued at $2,299,000 after purchasing an additional 1,057 shares during the last quarter. Stiles Financial Services Inc raised its holdings in shares of NextEra Energy by 9.0% during the fourth quarter. Stiles Financial Services Inc now owns 35,180 shares of the utilities provider's stock valued at $2,137,000 after acquiring an additional 2,899 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of NextEra Energy by 1.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 383,932 shares of the utilities provider's stock valued at $21,995,000 after acquiring an additional 6,325 shares in the last quarter. Asio Capital LLC bought a new position in shares of NextEra Energy during the fourth quarter valued at approximately $2,701,000. Finally, AJOVista LLC bought a new position in shares of NextEra Energy during the fourth quarter valued at approximately $162,000. 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.