NextEra Energy (NYSE: NEE) was upgraded by investment analysts at Goldman Sachs from a “neutral” rating to a “conviction-buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $84.00 target price on the stock.
The analysts wrote, “We upgrade NextEra Energy (NEE) to Buy from Neutral and add the shares to the Americas Conviction List to reflect (1) top-tier dividend growth given a below-average payout ratio, above-average EPS growth, and improving cash flow, (2) limited regulatory risk driven by a multi-year rate deal for its large Florida utility business, and (3) growth driven by new renewable developments for NEE’s highly contracted, non-regulated segment. Historically, utilities with top-quartile dividend growth typically outperform – despite NEE outperforming over the last 12 months, we expect further outperformance given almost 10% dividend growth. We remain around 1%-2% above consensus in 2013-2015 and see 11% total return potential for NEE.”
NextEra Energy (NYSE: NEE) traded up 0.52% on Wednesday, hitting $78.57. NextEra Energy has a 1-year low of $61.69 and a 1-year high of $78.22. The stock’s 50-day moving average is currently $74.09. The company has a market cap of $33.303 billion and a price-to-earnings ratio of 17.14.
NextEra Energy (NYSE: NEE) last posted its quarterly earnings results on Tuesday, January 29th. The company reported $1.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.06. The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. NextEra Energy has set its FY13 guidance at $4.70-5.00 EPS. Analysts expect that NextEra Energy will post $4.94 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie raised their price target on shares of NextEra Energy from $75.00 to $79.00 in a research note to investors on Monday, March 25th. They now have an “outperform” rating on the stock. Separately, analysts at KeyBanc upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, March 19th. They now have a $80.00 price target on the stock. Finally, analysts at KeyBanc upgraded shares of NextEra Energy from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, March 19th. They now have a $80.00 price target on the stock.
Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $76.46.