NextEra Energy (NYSE:NEE) Upgraded by Erste Group Bank to Strong-Buy Rating

Erste Group Bank upgraded shares of NextEra Energy (NYSE:NEE) to a strong-buy rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group cut their price target on shares of NextEra Energy from $81.00 to $77.00 in a research note on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $89.00 target price on shares of NextEra Energy in a research note on Thursday, March 20th. Evercore ISI cut their price objective on NextEra Energy from $84.00 to $79.00 and set an “in-line” rating on the stock in a report on Monday, January 27th. Morgan Stanley decreased their target price on NextEra Energy from $97.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, BMO Capital Markets cut their price target on shares of NextEra Energy from $84.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NextEra Energy has an average rating of “Moderate Buy” and a consensus target price of $85.15.

NextEra Energy Stock Up 1.0 %

Shares of NextEra Energy stock opened at $66.29 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.47 and a quick ratio of 0.38. The stock has a market cap of $136.47 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.45 and a beta of 0.58. The firm’s 50-day moving average is $69.71 and its two-hundred day moving average is $73.44. NextEra Energy has a 1 year low of $61.72 and a 1 year high of $86.10.

NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Friday, January 24th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. NextEra Energy had a net margin of 28.06% and a return on equity of 11.85%. As a group, research analysts expect that NextEra Energy will post 3.68 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.5665 dividend. This is a boost from NextEra Energy’s previous quarterly dividend of $0.52. The ex-dividend date was Friday, February 28th. This represents a $2.27 dividend on an annualized basis and a yield of 3.42%. NextEra Energy’s dividend payout ratio is presently 67.06%.

Insider Buying and Selling at NextEra Energy

In other news, CAO James Michael May sold 2,383 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NextEra Energy

A number of large investors have recently added to or reduced their stakes in the stock. Burkett Financial Services LLC raised its position in shares of NextEra Energy by 1,229.6% during the 4th quarter. Burkett Financial Services LLC now owns 359 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 332 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of NextEra Energy in the fourth quarter valued at approximately $28,000. Bellwether Advisors LLC acquired a new stake in shares of NextEra Energy in the fourth quarter worth approximately $30,000. WealthTrak Capital Management LLC purchased a new stake in shares of NextEra Energy during the fourth quarter worth approximately $33,000. Finally, Luken Investment Analytics LLC acquired a new position in NextEra Energy in the 4th quarter valued at $36,000. 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.