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Tuesday, October 20, 2020

The Unprecedented Rise of NextEra Energy Inc. (NYSE:NEE)

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NextEra Energy Inc. (NEE) shares are trading at lower $301.47 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $296.53.

To add more color to this target, the company’s high over the last year is $308.06 and the low is $174.80. Over the last 52 weeks, NEE is up 31.70% while the S&P 500 is up 18.31%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NEE reported a profit of $1.19 billion. NextEra Energy Inc. also saw revenues increase to $4.2 billion. In addition, NEE has free cash flow of $46.0 million as of 06-2020. The company’s EBITDA came in at $2.22 billion which compares well with its peers.

NEE booked profit margins of 18.70%, its Return on Equity (ROE) is 9.70%, and its Return on Assets is 3.00%. All told, it is clear that, NEE needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. NEE has a short ratio of 2.27 and outstanding shares of 489.70M.

Company Outlook

NEE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.75 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 7.33. NextEra Energy Inc. NEE also noted assets of $121.96 billion at the end of the last quarter. Investors should also keep an eye on sector updates as NEE has historically followed its peers on positive news.

All told, NextEra Energy Inc. NEE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NEE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

NextEra Energy Inc. NEE is now commanding a market cap of 146.70B and a float of 488.49M. NEE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of NEE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in NEE, either long or short, and we have not been compensated for this article.

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