Analysts have been eager to weigh in on the Utilities sector with new ratings on Parex Resources (PARXF), Paramount Resources (PRMRF) and NextEra Energy (NEE).
Parex Resources (PARXF)
RBC Capital analyst Al Stanton maintained a Buy rating on Parex Resources on November 20 and set a price target of C$24.00. The company’s shares closed last Monday at $13.24.
According to TipRanks.com, Stanton is ranked #4784 out of 7103 analysts.
Currently, the analyst consensus on Parex Resources is a Strong Buy with an average price target of $18.05, a 37.4% upside from current levels. In a report issued on November 5, Stifel Nicolaus also maintained a Buy rating on the stock with a C$23.50 price target.
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Paramount Resources (PRMRF)
RBC Capital analyst Michael Harvey maintained a Hold rating on Paramount Resources on November 20 and set a price target of C$3.75. The company’s shares closed last Monday at $2.87.
According to TipRanks.com, Harvey is a 3-star analyst with an average return of 3.3% and a 47.1% success rate. Harvey covers the Utilities sector, focusing on stocks such as Crescent Point Energy, Advantage Oil & Gas, and Birchcliff Energy.
The word on The Street in general, suggests a Hold analyst consensus rating for Paramount Resources with a $2.53 average price target, representing a -9.6% downside. In a report issued on November 6, National Bank also maintained a Hold rating on the stock with a C$3.75 price target.
NextEra Energy (NEE)
In a report released yesterday, Shelby Tucker from RBC Capital maintained a Buy rating on NextEra Energy, with a price target of $83.00. The company’s shares closed last Monday at $74.57.
According to TipRanks.com, Tucker is a 5-star analyst with an average return of 7.4% and a 68.9% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.
NextEra Energy has an analyst consensus of Strong Buy, with a price target consensus of $77.88.
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