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Why Wall Street Looks Positive about NextEra Energy Stock

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NextEra Energy

Among the total 17 Wall Street analysts currently covering NextEra Energy (NEE), five recommend the stock as a “strong buy” while ten recommend it as a “buy.” Two analysts rate the stock a “hold,” while none recommend it as a “sell.”

According to Wall Street analyst consensus, renewables titan NextEra Energy stock has a mean price target of $167.9 against its current market price of $153.3, which indicates an estimated upside of approximately 10% in a year.

UBS Financial Services raised NextEra Energy’s price target from $167.0 to $171.0 on March 5.

NEE anr

The chart above shows how analysts’ recommendations on NextEra Energy stock changed in the last few months. NEE hasn’t received a “sell” rating from analysts in over 12 months.

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Peer price targets

According to Wall Street analysts’ consensus, Dominion Energy (D) stock has an estimated upside of 10% for the next 12 months. Dominion Energy has a mean target price of $80.3, compared to its current market price of $72.9.

The largest rate-regulated utility, Duke Energy (DUK), has a mean target price of $82.0, which implies an estimated upside of 8% in a year. It’s currently trading at $75.9.

NextEra Energy has rallied the most in the last year. It has managed to gain more than 17% while broader utilities have fallen more than 4%. Along with its strong market performance, NextEra Energy’s dividend profile also looks attractive. The company recently increased its dividend per share by 13%—the most among the top utilities (XLU). See NextEra Energy’s Dividend Outlook and Growth Prospects.

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