Argus Boosts NextEra Energy (NEE) Price Target After Strong …
Insider Monkey – Free Hedge Fund and Insider Trading Data (Vardah Gill)NextEra Energy, Inc. (NYSE:NEE) is included among the 13 Best Consistent Dividend Stocks to Buy Now.
On October 29, Argus raised its price target on NextEra Energy, Inc. (NYSE:NEE) to $90 from $86 and maintained a Buy rating following the company’s strong third-quarter earnings, according to a report by The Fly. The firm expressed confidence inthe company’s long-term outlook, noting that it successfully combines its regulated utility, Florida Power & Light, with a rapidly expanding renewables division. The analyst added that Florida’s growing economy and rising population further strengthen the company’s position in the region.
In its third-quarter report, President, CEO, and Chairman John Ketchum outlined a four-year plan for Florida Power & Light to invest roughly $40 billion in new energy infrastructure. This includes 5.3 gigawatts of solar capacity, 3.4 gigawatts of battery storage, and a gas peaker plant awaiting regulatory approval. He also mentioned a proposed four-year rate agreement targeting a midpoint return on equity of 10.95% and an equity ratio of 59.6%.
Ketchum emphasized NextEra Energy, Inc. (NYSE:NEE)’s extensive national presence, noting a renewables and storage backlog of nearly 30 gigawatts and its ability to serve data center and hyperscaler customers with integrated generation and transmission solutions.
NextEra Energy, Inc. (NYSE:NEE) is a Fortune 200 company and the parent of Florida Power & Light Company, the largest electric utility in the US, supplying power to around 12 million people across Florida.
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