NextEra Energy (NYSE:NEE) Price Target Raised to $84.00

NextEra Energy (NYSE:NEE) had its target price hoisted by Royal Bank of Canada from $74.00 to $84.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the utilities provider’s stock.

Several other research firms also recently commented on NEE. BMO Capital Markets raised their price target on shares of NextEra Energy from $72.00 to $78.00 and gave the stock an outperform rating in a research note on Tuesday, May 7th. Wells Fargo & Company raised their price target on shares of NextEra Energy from $85.00 to $95.00 and gave the stock an overweight rating in a research note on Wednesday, May 15th. StockNews.com raised shares of NextEra Energy from a sell rating to a hold rating in a research note on Thursday, May 2nd. Bank of America raised their price target on shares of NextEra Energy from $61.00 to $67.00 and gave the stock a neutral rating in a research note on Tuesday, April 23rd. Finally, Mizuho downgraded shares of NextEra Energy from a buy rating to a neutral rating and set a $71.00 price target on the stock. in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $74.86.

NextEra Energy Price Performance

NextEra Energy stock opened at $73.06 on Wednesday. The firm has a 50-day moving average price of $71.54 and a 200-day moving average price of $63.55. The firm has a market capitalization of $150.10 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.65 and a beta of 0.56. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $80.47.

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 firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue was down 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.84 EPS. As a group, equities research analysts forecast that NextEra Energy will post 3.4 EPS for the current year.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Monday, June 3rd. NextEra Energy’s payout ratio is currently 56.13%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Navellier & Associates Inc. acquired a new stake in NextEra Energy in the 3rd quarter worth approximately $687,000. Atomi Financial Group Inc. boosted its stake in NextEra Energy by 27.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 6,701 shares of the utilities provider’s stock worth $384,000 after purchasing an additional 1,455 shares in the last quarter. Heritage Investors Management Corp boosted its stake in NextEra Energy by 17.3% in the 3rd quarter. Heritage Investors Management Corp now owns 158,289 shares of the utilities provider’s stock worth $9,068,000 after purchasing an additional 23,327 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in NextEra Energy in the 3rd quarter worth approximately $141,817,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in NextEra Energy by 6.0% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 18,388 shares of the utilities provider’s stock worth $1,053,000 after purchasing an additional 1,047 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.