NextEra Energy (NEE) Receives “Buy” Rating from Guggenheim

Guggenheim reissued their buy rating on shares of NextEra Energy (NYSE:NEE) in a research note released on Wednesday morning. The brokerage currently has a $177.00 target price on the utilities provider’s stock.

Several other research firms have also issued reports on NEE. Morgan Stanley increased their price target on shares of NextEra Energy from $173.00 to $175.00 and gave the stock an overweight rating in a research report on Wednesday, December 13th. Zacks Investment Research downgraded shares of NextEra Energy from a buy rating to a hold rating in a research note on Friday, October 13th. Bank of America started coverage on shares of NextEra Energy in a research note on Tuesday, October 24th. They issued a buy rating and a $166.00 price objective for the company. Argus reissued a buy rating and issued a $173.00 price objective on shares of NextEra Energy in a research note on Tuesday, December 5th. They noted that the move was a valuation call. Finally, Credit Suisse Group started coverage on shares of NextEra Energy in a research note on Thursday, December 7th. They issued an outperform rating and a $173.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $159.63.

Shares of NextEra Energy (NYSE NEE) traded down $0.78 during trading hours on Wednesday, hitting $151.02. 3,333,500 shares of the company’s stock were exchanged, compared to its average volume of 2,450,300. NextEra Energy has a 1 year low of $117.33 and a 1 year high of $159.40. The firm has a market cap of $71,040.00, a price-to-earnings ratio of 16.97, a PEG ratio of 2.87 and a beta of 0.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.49 and a current ratio of 0.61.

NextEra Energy (NYSE:NEE) last announced its earnings results on Thursday, October 26th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.08. NextEra Energy had a net margin of 24.81% and a return on equity of 11.86%. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The business’s revenue was up .1% compared to the same quarter last year. analysts forecast that NextEra Energy will post 6.73 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 24th were issued a dividend of $0.9825 per share. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, November 22nd. NextEra Energy’s dividend payout ratio is currently 44.16%.

In related news, CEO Armando Pimentel, Jr. sold 42,372 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $157.45, for a total transaction of $6,671,471.40. Following the transaction, the chief executive officer now directly owns 121,958 shares in the company, valued at $19,202,287.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph T. Kelliher sold 2,000 shares of NextEra Energy stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $150.00, for a total transaction of $300,000.00. The disclosure for this sale can be found here. Insiders have sold 74,372 shares of company stock valued at $11,517,071 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Achmea Investment Management B.V. raised its position in shares of NextEra Energy by 61.5% in the third quarter. Achmea Investment Management B.V. now owns 52,613 shares of the utilities provider’s stock valued at $7,708,000 after purchasing an additional 20,028 shares during the period. Almanack Investment Partners LLC. grew its stake in NextEra Energy by 64.6% during the second quarter. Almanack Investment Partners LLC. now owns 2,163 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 849 shares in the last quarter. Colony Group LLC grew its stake in NextEra Energy by 806.4% during the second quarter. Colony Group LLC now owns 15,517 shares of the utilities provider’s stock valued at $2,174,000 after acquiring an additional 13,805 shares in the last quarter. South Dakota Investment Council purchased a new position in NextEra Energy during the third quarter valued at approximately $2,535,000. Finally, Cookson Peirce & Co. Inc. purchased a new position in NextEra Energy during the second quarter valued at approximately $9,809,000. 75.38% of the stock is currently owned by institutional investors and hedge funds.

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NextEra Energy Company Profile

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.

Analyst Recommendations for NextEra Energy (NYSE:NEE)

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