NextEra Energy (NEE) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of NextEra Energy (NYSE:NEE) from a sell rating to a hold rating in a report published on Thursday.
According to Zacks, “Shares of NextEra Energy have outperformed the Industry rally in the past 12 months. NextEra Energy’s investment to strengthen its infrastructure and ongoing capital projects, when completed, will help it serve its expanding customer base more efficiently. The company’s focus on clean energy has helped it lower emission levels, and use of new technology has saved on energy bills for its customers. The natural gas pipelines, which came online in first half of 2017, are expected to boost its performance. The company’s nature of business is subject to complex and comprehensive federal, state and other regulations. Despite investments made to strengthen its infrastructure the unpredictable nature of natural disaster could derail normal operation and impact profitability. We could also notice a decline in its fourth quarter Zacks Consensus Estimate for earnings.”
A number of other research analysts have also commented on the company. Guggenheim reiterated a buy rating and issued a $177.00 price objective on shares of NextEra Energy in a research report on Wednesday, January 3rd. Morgan Stanley increased their price objective on NextEra Energy from $173.00 to $175.00 and gave the company an overweight rating in a research report on Wednesday, December 13th. Credit Suisse Group assumed coverage on NextEra Energy in a research report on Thursday, December 7th. They issued an outperform rating and a $173.00 price objective on the stock. Argus reiterated a buy rating and issued a $173.00 price objective on shares of NextEra Energy in a research report on Tuesday, December 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada reiterated a buy rating and issued a $156.00 price objective on shares of NextEra Energy in a research report on Tuesday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $159.56.
NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $1.85 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.08. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. NextEra Energy had a return on equity of 11.86% and a net margin of 24.81%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $1.74 EPS. research analysts anticipate that NextEra Energy will post 6.73 earnings per share for the current year.
In other news, Director James L. Robo sold 30,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $151.52, for a total value of $4,545,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Armando Pimentel, Jr. sold 42,372 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total value of $6,671,471.40. Following the completion of the transaction, the chief executive officer now directly owns 121,958 shares in the company, valued at approximately $19,202,287.10. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Personal Capital Advisors Corp acquired a new stake in NextEra Energy during the 4th quarter worth $13,295,000. Catawba Capital Management VA acquired a new stake in NextEra Energy during the 4th quarter worth $203,000. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in NextEra Energy during the 4th quarter worth $3,904,000. Pioneer Trust Bank N A OR raised its stake in NextEra Energy by 4.7% during the 4th quarter. Pioneer Trust Bank N A OR now owns 15,455 shares of the utilities provider’s stock worth $2,414,000 after buying an additional 690 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in NextEra Energy by 119.3% during the 4th quarter. State of Alaska Department of Revenue now owns 73,789 shares of the utilities provider’s stock worth $11,522,000 after buying an additional 40,143 shares during the period. 75.41% of the stock is currently owned by institutional investors.
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About NextEra Energy
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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