Barclays Maintains an 'Overweight' on NextEra Energy (NEE); Clearing the Air & Setting the Table for 2013

Barclays maintains an 'Overweight' on NextEra Energy (NYSE: NEE) price target of $61.00.

Barclays analyst says, "NEE reported 3Q11 operating earnings of $1.31 on Friday, which was light of our $1.37 estimate and consensus $1.41, and compares to last year's $1.45. The company reiterated its belief that 2011 earnings would be toward the lower end of its $4.35-4.65 guidance, and initiated 2012 guidance of $4.35-4.65 as well. 3Q disappointments in the operation of the retail and trading businesses, assisted by hot weather and weak wind resource, were among the main drivers for the quarter end the year. Our 2011 estimate remains unchanged at $4.40, but our 2012/2013 estimates are moving from $4.76/$5.08 to $4.51/$4.99. The estimate changes reflect the continuing weakness in 2012 at Energy Resources, driven in part by the roll-off of hedges and existing production tax credits (PTCs) at the wind assets.

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 $56.44 yesterday.

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