Analyst Outlook for This Canada’s Energy Sector Company
Wells Fargo analyst Neil Kalton upgraded NextEra Energy (NEE) to Buy today. The company’s shares closed last Monday at $281.92, close to its 52-week high of $291.09.
According to TipRanks.com, Kalton is a 4-star analyst with an average return of 6.2% and a 62.7% success rate. Kalton covers the Utilities sector, focusing on stocks such as Public Service Enterprise, Nextera Energy Partners, and Edison International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NextEra Energy with a $287.33 average price target, representing a 2.8% upside. In a report issued on September 4, Atlantic Equities also initiated coverage with a Buy rating on the stock with a $330.00 price target.
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Based on NextEra Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.2 billion and net profit of $1.28 billion. In comparison, last year the company earned revenue of $4.97 billion and had a net profit of $1.23 billion.
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NextEra Energy, Inc. is an electric power and energy infrastructure company. It operates through the following segments: FPL & NEER. The FPL segment engages primarily in 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. It provides full energy and capacity requirements services; engages in power and gas marketing and trading activities; participates in natural gas production and pipeline infrastructure development; and owns a retail electricity provider. The company was founded in 1984 and is headquartered in Juno Beach, FL.
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