NextEra Energy (NYSE:NEE) Releases Quarterly Earnings Results

NextEra Energy (NYSE:NEE) posted its quarterly earnings results on Wednesday. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03, Briefing.com reports. The business had revenue of $6.07 billion during the quarter, compared to the consensus estimate of $7.29 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. During the same quarter in the previous year, the firm posted $0.88 earnings per share. NextEra Energy updated its FY24 guidance to $3.23-3.43 EPS and its FY25 guidance to $3.45-3.70 EPS.

NextEra Energy Stock Performance

NYSE NEE traded down $1.97 during trading hours on Thursday, hitting $73.44. The company had a trading volume of 13,932,755 shares, compared to its average volume of 11,755,793. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.43 and a current ratio of 0.51. NextEra Energy has a 1-year low of $47.15 and a 1-year high of $80.47. The company has a market cap of $150.88 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.47 and a beta of 0.54. The business has a 50 day moving average of $74.00 and a 200-day moving average of $65.92.

NextEra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 2.81%. NextEra Energy’s dividend payout ratio is presently 56.13%.

Wall Street Analyst Weigh In

Several research firms have commented on NEE. Scotiabank boosted their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 22nd. Royal Bank of Canada boosted their price target on shares of NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Wells Fargo & Company restated an “overweight” rating and issued a $95.00 price target on shares of NextEra Energy in a research note on Wednesday, June 12th. Morgan Stanley boosted their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NextEra Energy from $76.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $77.79.

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.