NEW YORK (TheStreet) -- Shares of NextEra Energy (NEE - Get Report) are down 0.30% to $130.01 in morning trading as the company's price target was raised today to $134 from $126 with an "overweight" rating at KeyBanc.
The Juno Beach, FL-based electricity supplier is awaiting a decision from the Hawaii Public Utilities Commission (PUC) on the company's proposed $4.3 billion acquisition of Hawaiian Electric Industries (HEI - Get Report) .
This decision could be affected by Hawaii Gov. David Ige's decision to appoint a new Commissioner, Michael Champley, whose term starts today. PUC Chairman Randy Iwase told Pacific Business News that he expects a decision on the December 2014 proposal by the end of next week.
Most investors are opposed to the merger, citing concerns "over NextEra's Florida subsidiary's clean energy track record and worries that the deal would raise the island's already-high electricity rates," according to utilitydive.com.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate NEXTERA ENERGY INC as a Buy with a ratings score of A+. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.NEE data by YCharts