NextEra Energy, Inc. (NYSE:NEE) Given Average Recommendation of “Moderate Buy” by Analysts

Posted by on Jun 6th, 2023

NextEra Energy, Inc. (NYSE:NEE – Get Rating) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $92.50.

A number of analysts recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of NextEra Energy from $95.00 to $90.00 in a research note on Wednesday, April 26th. Guggenheim decreased their target price on NextEra Energy from $96.00 to $92.00 in a research report on Monday, April 24th. Morgan Stanley raised their price objective on NextEra Energy from $94.00 to $96.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Erste Group Bank upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, March 28th. Finally, Wells Fargo & Company lowered their target price on NextEra Energy from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, March 2nd.

Institutional Investors Weigh In On NextEra Energy

Hedge funds have recently modified their holdings of the stock. Sageworth Trust Co grew its stake in shares of NextEra Energy by 1,794.1% in the 1st quarter. Sageworth Trust Co now owns 322 shares of the utilities provider’s stock valued at $25,000 after buying an additional 305 shares in the last quarter. Mendota Financial Group LLC bought a new stake in shares of NextEra Energy during the 4th quarter worth about $30,000. Your Advocates Ltd. LLP acquired a new position in shares of NextEra Energy during the 1st quarter valued at about $31,000. Magellan Asset Management Ltd acquired a new position in shares of NextEra Energy during the 1st quarter valued at about $32,000. Finally, Align Wealth Management LLC bought a new position in shares of NextEra Energy in the 4th quarter valued at approximately $34,000. 76.17% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Stock Performance

NYSE:NEE opened at $73.59 on Tuesday. The firm’s fifty day simple moving average is $76.30 and its 200 day simple moving average is $78.48. The company has a current ratio of 0.53, a quick ratio of 0.46 and a debt-to-equity ratio of 1.13. NextEra Energy has a twelve month low of $69.64 and a twelve month high of $91.35. The firm has a market capitalization of $148.90 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.84 and a beta of 0.47.

NextEra Energy (NYSE:NEE – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. NextEra Energy had a return on equity of 12.44% and a net margin of 26.97%. The firm had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $5.78 billion. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, equities research analysts expect that NextEra Energy will post 3.11 earnings per share for the current fiscal year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 30th will be issued a $0.4675 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, May 26th. NextEra Energy’s payout ratio is 55.65%.

About NextEra Energy

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NextEra Energy, Inc engages in the provision of renewable energy. It operates through the following segments: FPL and NEER. The FPL segment involves the generation, transmission, distribution, and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.

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Analyst Recommendations for NextEra Energy (NYSE:NEE)

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