Barclays Maintains an 'Overweight' on NextEra Energy (NEE); The Only Integrated Stock with '11/'12 Growth
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Price: $83.65 -1.62%
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
23 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on NextEra Energy (NYSE: NEE), PT $58.
Barclays analyst says, "NEE reported 1Q operating earnings of $0.94, versus consensus $0.95 and 1Q10 of $0.94. Earnings were up at FP&L due to higher rate base, AFUDC, and clause-related revenues, and down at Energy Resources due to lower results at the supply and trading business and the absence of a sale that benefitted 1Q10. Guidance was increased by $0.10 on the top and bottom of the range, to $4.35-$4.65, as a change to the expected depreciable life of newer wind assets will lower depreciation expense going forward."
"We are taking our earnings estimates up accordingly, from $4.41/$4.66 in '11/'12 to $4.51/$4.76. NEE remains the only integrated power stock in our coverage with earnings growth throughout the '11-'12 period, and with the higher-than-average hedge profile, we believe it represents a way to play a power market rebound without having to experience the earnings drop evident in its peers."
For more ratings news on NextEra Energy click here and for the rating history of NextEra Energy click here.
Shares of NextEra Energy closed at $56.20 yesterday.
Barclays analyst says, "NEE reported 1Q operating earnings of $0.94, versus consensus $0.95 and 1Q10 of $0.94. Earnings were up at FP&L due to higher rate base, AFUDC, and clause-related revenues, and down at Energy Resources due to lower results at the supply and trading business and the absence of a sale that benefitted 1Q10. Guidance was increased by $0.10 on the top and bottom of the range, to $4.35-$4.65, as a change to the expected depreciable life of newer wind assets will lower depreciation expense going forward."
"We are taking our earnings estimates up accordingly, from $4.41/$4.66 in '11/'12 to $4.51/$4.76. NEE remains the only integrated power stock in our coverage with earnings growth throughout the '11-'12 period, and with the higher-than-average hedge profile, we believe it represents a way to play a power market rebound without having to experience the earnings drop evident in its peers."
For more ratings news on NextEra Energy click here and for the rating history of NextEra Energy click here.
Shares of NextEra Energy closed at $56.20 yesterday.
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