NextEra Energy (NYSE:NEE) Releases FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.23-3.43 for the period, compared to the consensus estimate of $3.40. NextEra Energy also updated its FY 2024 guidance to 3.230-3.430 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on NEE. StockNews.com upgraded NextEra Energy from a sell rating to a hold rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of NextEra Energy from $84.00 to $85.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Barclays began coverage on shares of NextEra Energy in a report on Wednesday, April 10th. They set an equal weight rating and a $66.00 target price on the stock. Scotiabank boosted their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the company a sector outperform rating in a report on Monday. Finally, BMO Capital Markets boosted their target price on shares of NextEra Energy from $70.00 to $72.00 and gave the company an outperform rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, NextEra Energy presently has an average rating of Moderate Buy and an average target price of $71.50.

NextEra Energy Price Performance

Shares of NextEra Energy stock traded up $0.34 during trading on Thursday, hitting $66.90. The stock had a trading volume of 11,369,761 shares, compared to its average volume of 11,936,405. NextEra Energy has a 12 month low of $47.15 and a 12 month high of $78.53. The business’s 50-day moving average is $60.67 and its 200 day moving average is $58.94. The firm has a market cap of $137.31 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.38 and a beta of 0.51. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The company’s revenue was down 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, sell-side analysts anticipate that NextEra Energy will post 3.4 earnings per share for the current year.

NextEra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.515 per share. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio is currently 56.13%.

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.