NextEra Energy (NYSE:NEE) Given "Buy" Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of NextEra Energy (NYSE:NEE - Free Report) in a report released on Thursday morning,Benzinga reports. Guggenheim currently has a $89.00 target price on the utilities provider's stock.

Several other brokerages also recently commented on NEE. Jefferies Financial Group lowered their price objective on NextEra Energy from $81.00 to $77.00 in a research report on Monday, January 27th. JPMorgan Chase & Co. boosted their price target on NextEra Energy from $90.00 to $91.00 and gave the stock an "overweight" rating in a report on Tuesday, March 11th. Scotiabank increased their price objective on shares of NextEra Energy from $92.00 to $96.00 and gave the company a "sector outperform" rating in a report on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of NextEra Energy from $93.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Finally, Evercore ISI dropped their target price on shares of NextEra Energy from $84.00 to $79.00 and set an "in-line" rating for the company in a research report on Monday, January 27th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $85.92.

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NextEra Energy Stock Performance

NextEra Energy stock traded down $0.86 during midday trading on Thursday, hitting $70.02. The stock had a trading volume of 12,383,998 shares, compared to its average volume of 10,164,201. NextEra Energy has a 52-week low of $61.30 and a 52-week high of $86.10. The company has a market capitalization of $144.03 billion, a PE ratio of 20.78, a P/E/G ratio of 2.45 and a beta of 0.58. The firm's fifty day moving average is $70.68 and its two-hundred day moving average is $75.42. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 1.20.

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

NextEra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $0.5665 per share. This is a boost from NextEra Energy's previous quarterly dividend of $0.52. This represents a $2.27 annualized dividend and a yield of 3.24%. The ex-dividend date was Friday, February 28th. NextEra Energy's 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 on Tuesday, February 18th. The shares were sold at an average price of $68.09, for a total value of $162,258.47. Following the sale, the chief accounting officer now owns 27,427 shares of the company's stock, valued at approximately $1,867,504.43. This represents a 7.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On NextEra Energy

Several hedge funds have recently added to or reduced their stakes in NEE. Fire Capital Management LLC bought a new position in shares of NextEra Energy during the fourth quarter valued at approximately $894,000. Mascagni Wealth Management Inc. purchased a new stake in NextEra Energy in the fourth quarter worth $161,000. Chancellor Financial Group WB LP purchased a new stake in NextEra Energy in the fourth quarter worth $2,866,000. Objective Capital Management LLC lifted its position in shares of NextEra Energy by 10.7% during the fourth quarter. Objective Capital Management LLC now owns 3,707 shares of the utilities provider's stock worth $266,000 after purchasing an additional 357 shares during the last quarter. Finally, Triton Wealth Management PLLC boosted its stake in shares of NextEra Energy by 2.4% during the fourth quarter. Triton Wealth Management PLLC now owns 8,721 shares of the utilities provider's stock valued at $650,000 after purchasing an additional 208 shares during the period. 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.