NextEra Energy Receives Buy Rating from Guggenheim

On Thursday, Guggenheim reaffirmed its "buy" rating for NextEra Energy (NYSE:NEE - Get Free Report), one of the largest utility companies in North America. In its report to investors, they set a price target of $89.00 for the company's shares. This target suggests a potential upside of about 24.89% from the stock's previous closing price.

Recent Analyst Ratings

Aside from Guggenheim, several other financial analysts have also shared their insights about NextEra Energy recently. BMO Capital Markets raised its price target from $82.00 to $84.00, while JPMorgan Chase & Co. increased their target from $90.00 to $91.00, maintaining an "overweight" rating for the stock. Moreover, Evercore ISI adjusted its price target down from $84.00 to $79.00 with an "in-line" rating. Scotiabank was more optimistic, increasing its target from $92.00 to $96.00 and giving a "sector outperform" rating. On the other hand, Jefferies Financial Group reduced its target from $81.00 to $77.00. Current market data indicates that eight analysts have rated NextEra Energy with a hold rating, while seven have given it a buy rating, resulting in an average rating of "hold" and a target price of $85.69.

NextEra Energy’s Stock Performance

NextEra Energy's stock opened at $71.26 on Thursday. Over the past year, the stock has reached a low of $61.29 and a high of $86.10. Its 50-day and 200-day moving averages are $70.54 and $75.66 respectively. With a market capitalization of approximately $146.58 billion, the company has a PE ratio of 21.13, a price-to-earnings-growth ratio of 2.45, and a beta of 0.58. It also holds a debt-to-equity ratio of 1.20.

Recent Earnings Report

NextEra Energy’s last quarterly earnings report was published on January 24th, where it reported earnings per share (EPS) of $0.53, aligning with analysts' expectations. The company has showcased a strong net margin of 28.06% and a return on equity of 11.85%. Analysts predict that NextEra Energy will achieve an EPS of 3.68 for the current year.

Insider Activity

In terms of insider trading, James Michael May, the Chief Accounting Officer, sold 2,383 shares on February 18th, receiving $68.09 per share, amounting to a total of $162,258.47. Following this sale, he now owns 27,427 shares valued at around $1.87 million, reflecting a decrease of 7.99% in his holdings.

Institutional Holdings

Institutional investments have been notable, with various investors adjusting their positions in NextEra Energy. For instance, Burkett Financial Services LLC significantly raised its position by 1,229.6%, acquiring a total of 359 shares worth $26,000. Other firms such as Sugar Maple Asset Management LLC and Quarry LP have also made new investments in the company. Current data indicates that institutional investors own 78.72% of NextEra Energy's stock.

About NextEra Energy

NextEra Energy, Inc. operates through its subsidiaries to generate, transmit, and sell electric power in North America. The company is a prominent provider of electricity generated from various sources, including wind, solar, nuclear, and natural gas. In addition, it develops and manages long-term contracted assets like renewable energy projects and battery storage.

Energy, Stocks, Investment