NextEra Energy (NYSE:NEE) Issues FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.23-3.43 for the period, compared to the consensus estimate of $3.41. NextEra Energy also updated its FY 2024 guidance to 3.230-3.430 EPS.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Dbs Bank lowered NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group started coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 target price for the company. BMO Capital Markets boosted their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $85.46.

NextEra Energy Trading Down 1.5 %

Shares of NEE stock traded down $1.24 on Thursday, hitting $83.72. The stock had a trading volume of 3,613,683 shares, compared to its average volume of 10,724,090. The company’s 50 day moving average price is $82.19 and its 200-day moving average price is $75.96. NextEra Energy has a 1 year low of $53.81 and a 1 year high of $86.10. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The firm has a market capitalization of $172.01 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.92 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period in the prior year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that NextEra Energy will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.06 annualized dividend and a dividend yield of 2.46%. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Insider Activity at NextEra Energy

In other news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the completion of the transaction, the executive vice president now owns 100 shares in the company, valued at approximately $7,697. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

NextEra Energy Company Profile

NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.