NextEra Energy (NYSE:NEE) PT Raised to $84.00 at Citigroup

NextEra Energy (NYSE:NEE) had its price target hoisted by Citigroup from $69.00 to $84.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the utilities provider’s stock.

Other analysts have also issued reports about the company. Barclays reduced their price objective on NextEra Energy from $74.00 to $73.00 and set an equal weight rating on the stock in a research note on Thursday, June 13th. Royal Bank of Canada raised their price objective on NextEra Energy from $74.00 to $84.00 and gave the company an outperform rating in a research note on Wednesday, June 12th. Morgan Stanley raised their price objective on NextEra Energy from $79.00 to $83.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. raised their price objective on NextEra Energy from $76.00 to $90.00 and gave the company an overweight rating in a research note on Thursday, June 20th. Finally, Bank of America raised their price objective on NextEra Energy from $61.00 to $67.00 and gave the company a neutral rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $77.57.

NextEra Energy Stock Performance

NEE opened at $70.81 on Thursday. The firm has a market cap of $145.48 billion, a P/E ratio of 19.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.56. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $80.47. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. The business’s fifty day moving average is $73.25 and its 200-day moving average is $64.50.

NextEra Energy (NYSE:NEE) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a return on equity of 11.72% and a net margin of 27.62%. NextEra Energy’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. Sell-side analysts expect that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.515 per share. The ex-dividend date was Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.91%. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Hedge Funds Weigh In On NextEra Energy

Hedge funds have recently made changes to their positions in the stock. Clear Investment Research LLC raised its position in shares of NextEra Energy by 387.2% during the fourth quarter. Clear Investment Research LLC now owns 458 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 364 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of NextEra Energy during the fourth quarter worth about $29,000. American Capital Advisory LLC raised its position in shares of NextEra Energy by 74.5% during the first quarter. American Capital Advisory LLC now owns 480 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 205 shares during the last quarter. Stuart Chaussee & Associates Inc. raised its position in shares of NextEra Energy by 315.4% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 540 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 410 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of NextEra Energy during the fourth quarter worth about $34,000. 78.72% of the stock is currently owned by institutional investors.

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.