JPMorgan Raises Price Targets for NorthWestern Energy and NextEra Energy Amid U.S. Electricity Demand Surge

JPMorgan raised its price target for NorthWestern Energy Group, Inc. (NASDAQ:NWE) from $60 to $61 on December 12, 2025, maintaining a 'Neutral' rating. This follows a 3.46% increase in NWE's share price between December 5 and December 12.

The Energy Information Administration (EIA) projects U.S. electricity consumption to reach record levels of 4,199 billion kWh in 2025 and 4,267 billion kWh in 2026, driven by demand from data centers, cryptocurrency, heating, and transportation. Also on December 11, JPMorgan reaffirmed an Overweight rating on NextEra Energy, Inc.

(NYSE:NEE) and raised its price target from $94 to $97. On December 8, NextEra announced a new agreement to supply 168 MW from the Point Beach Nuclear Plant to WPPI Energy, extending the contract into the 2050s. Additionally, NextEra plans to acquire Symmetry Energy Solutions from Energy Capital Partners, with the deal expected to close in fiscal Q1 2026, pending regulatory approvals.