BMO Capital Believes NextEra Energy Inc (NYSE: NEE) Still Has Room to Grow

By Ryan Adsit

In a report issued on June 22, Michael Worms from BMO Capital reiterated a Buy rating on NextEra Energy Inc (NYSE: NEE), with a price target of $156. The company’s shares closed yesterday at $143.14, close to its 52-week high of $144.33.

According to TipRanks.com, Worms is a 5-star analyst with an average return of 14.1% and a 92.6% success rate. Worms covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Public Service Enterprise, and American Electric Power.

NextEra Energy Inc has an analyst consensus of Moderate Buy, with a price target consensus of $150.

Based on NextEra Energy Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $3.47 billion and quarterly net profit of $1.58 billion. In comparison, last year the company earned revenue of $3.23 billion and had a net profit of $636 million.

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NextEra Energy, Inc. operates as an investment holding company with interests in generating and distributing electricity. The company through its subsidiaries provides retail and wholesale electric services to customers and owns generation, transmission and distribution facilities to support its services. It operates through following business segments: FPL, NEER and Corporate & Other. 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 Corporate & Other segment represents other business activities that are separately reportable and eliminating entries. The company was founded in 1984 and is headquartered in Juno Beach, FL.,000KQ5-E