Morgan Stanley Keeps Their Buy Rating on NextEra Energy (NEE)

Morgan Stanley analyst David Arcaro maintained a Buy rating on NextEra Energy (NEEResearch Report) today and set a price target of $98.00. The company’s shares opened today at $83.80.

Arcaro covers the Utilities sector, focusing on stocks such as Consolidated Edison, Eversource Energy, and NextEra Energy. According to TipRanks, Arcaro has an average return of -4.9% and a 38.30% success rate on recommended stocks.

Currently, the analyst consensus on NextEra Energy is a Strong Buy with an average price target of $99.00, which is a 18.14% upside from current levels. In a report released on September 16, BMO Capital also assigned a Buy rating to the stock with a $100.00 price target.

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Based on NextEra Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $5.18 billion and a net profit of $1.38 billion. In comparison, last year the company earned a revenue of $3.93 billion and had a net profit of $256 million

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NextEra Energy, Inc. is an energy company and is one of the largest electric power generators in the United States. Through its Florida Power & Light Company (FPL) business, the company provides clean, reliable and affordable electricity across Florida. NextEra Energy also owns a clean energy business, NextEra Energy Resources (NEER), which is the world’s largest generator of renewable energy from wind and sun. The company was founded in 1984 and based in Juno Beach, Florida.

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