Mizuho Securities Reiterates Buy on Nextera Energy (NEE) Following Florida Power & Light's Settlement
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Mizuho Securities reiterated a Buy rating and $138.00 price target on NextEra Energy (NYSE: NEE) after Florida Power & Light, reached a settlement agreement in its pending base rate proceeding. The agreement allows ROE of 10.55% with a range of 9.6-11.6% and extends the use of depreciation reserve surplus up for up to $1.0B plus and carry's over any remaining surplus under the 2012 agreement at year-end 2016.
Analyst James Riesemann commented, "Our 2016, 2017, and 2018 EPS estimates remain unchanged at $6.22, $6.53 and $7.02, respectively. Our modeling assumed a continuation of the 10.5% allowed ROE and regulatory capital structure. Our EPS estimates do not include any potential contribution from the pending acquisition of Oncor. We believe the settlement, and the discretionary depreciation, will allow NEE to earn towards the higher end of its previously articulated 6-8% growth rate"
Shares of NextEra Energy closed at $118.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Kroger (KR) to $30 Following 3Q and Guidance
- Shopify (SHOP): CFO Meetings Indicate Strong Growth Ahead - Wedbush
- Cowen Cuts Price Target on Workday (WDAY) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!