JPMorgan Chase & Co. Increases NextEra Energy (NYSE:NEE) Price Target to $91.00

NextEra Energy (NYSE:NEE) had its price target lifted by equities research analysts at JPMorgan Chase & Co. from $90.00 to $91.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 22.91% from the company’s current price.

Other analysts have also issued reports about the stock. BMO Capital Markets upped their price target on shares of NextEra Energy from $82.00 to $84.00 in a research report on Monday, January 27th. Morgan Stanley boosted their price objective on shares of NextEra Energy from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Scotiabank raised their target price on shares of NextEra Energy from $92.00 to $96.00 and gave the company a “sector outperform” rating in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price target on NextEra Energy from $81.00 to $77.00 in a report on Monday, January 27th. Finally, Evercore ISI dropped their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a research note on Monday, January 27th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $85.92.

NextEra Energy Stock Down 2.8 %

Shares of NYSE:NEE traded down $2.12 during midday trading on Tuesday, reaching $74.04. The company had a trading volume of 2,351,218 shares, compared to its average volume of 11,465,584. NextEra Energy has a 1-year low of $56.55 and a 1-year high of $86.10. The stock has a market cap of $152.30 billion, a PE ratio of 22.02, a P/E/G ratio of 2.45 and a beta of 0.58. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 1.20. The business’s 50 day moving average price is $70.39 and its 200 day moving average price is $76.01.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.53. NextEra Energy had a return on equity of 11.85% and a net margin of 28.06%. Research analysts forecast that NextEra Energy will post 3.68 EPS for the current fiscal year.

Insider Activity at NextEra Energy

In other NextEra Energy news, CAO James Michael May sold 2,383 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $68.09, for a total transaction of $162,258.47. Following the transaction, the chief accounting officer now owns 27,427 shares in the company, valued at $1,867,504.43. This trade represents a 7.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NextEra Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Burkett Financial Services LLC boosted its holdings in NextEra Energy by 1,229.6% in the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 332 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $28,000. Quarry LP bought a new stake in shares of NextEra Energy in the third quarter valued at approximately $33,000. Bellwether Advisors LLC bought a new stake in shares of NextEra Energy in the fourth quarter valued at approximately $30,000. Finally, WealthTrak Capital Management LLC acquired a new stake in NextEra Energy during the fourth quarter worth approximately $33,000. 78.72% of the stock is currently owned by institutional investors and hedge funds.

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.