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 EPS guidance of $3.23-3.43 for the period, compared to the consensus EPS estimate of $3.41. NextEra Energy also updated its FY 2024 guidance to 3.230-3.430 EPS.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $81.43 on Friday. NextEra Energy has a twelve month low of $53.81 and a twelve month high of $86.10. The firm has a market cap of $167.30 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. The business has a fifty day moving average of $82.36 and a 200-day moving average of $76.12.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $8.11 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. On average, equities research analysts predict that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio is 56.13%.

Analyst Ratings Changes

Several research firms recently issued reports on NEE. Jefferies Financial Group began coverage on NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target on the stock. Bank of America raised their target price on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley raised their target price on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. BMO Capital Markets raised their target price on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Finally, Dbs Bank cut NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.54.

Insider Transactions at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of NextEra Energy stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value of $50,646.26. Following the sale, the executive vice president now owns 100 shares of the company’s stock, valued at approximately $7,697. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by 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.