NextEra Energy (NYSE:NEE) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

NextEra Energy (NYSE:NEE – Get Rating) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01, Briefing.com reports. NextEra Energy had a return on equity of 12.27% and a net margin of 19.30%. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. NextEra Energy’s revenue for the quarter was up 22.2% on a year-over-year basis. NextEra Energy updated its FY23 guidance to $2.98-3.13 EPS.

NextEra Energy Stock Performance

Shares of NEE opened at $81.25 on Wednesday. The company has a market cap of $161.46 billion, a PE ratio of 43.25, a price-to-earnings-growth ratio of 2.76 and a beta of 0.48. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 1.17. The stock has a 50-day moving average price of $84.31 and a 200-day moving average price of $83.10. NextEra Energy has a 12-month low of $67.22 and a 12-month high of $91.35.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on NextEra Energy from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com started coverage on NextEra Energy in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Credit Suisse Group increased their target price on NextEra Energy to $89.00 in a research report on Tuesday, November 1st. Guggenheim dropped their target price on NextEra Energy from $108.00 to $99.00 in a research report on Monday, October 24th. Finally, KeyCorp dropped their target price on NextEra Energy from $93.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.40.

Insider Activity

In other news, EVP Charles E. Sieving sold 7,723 shares of NextEra Energy stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $85.00, for a total transaction of $656,455.00. Following the completion of the sale, the executive vice president now owns 178,227 shares in the company, valued at approximately $15,149,295. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Charles E. Sieving sold 7,723 shares of NextEra Energy stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $85.00, for a total transaction of $656,455.00. Following the completion of the sale, the executive vice president now owns 178,227 shares in the company, valued at approximately $15,149,295. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Coffey sold 2,908 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $78.19, for a total value of $227,376.52. Following the completion of the sale, the executive vice president now owns 11,489 shares of the company’s stock, valued at approximately $898,324.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,617 shares of company stock worth $3,962,217. 0.43% of the stock is currently owned by insiders.

Institutional Trading of NextEra Energy

A number of hedge funds have recently bought and sold shares of NEE. GM Advisory Group Inc. lifted its position in NextEra Energy by 2.0% in the first quarter. GM Advisory Group Inc. now owns 9,139 shares of the utilities provider’s stock valued at $774,000 after purchasing an additional 178 shares during the last quarter. Private Capital Management LLC increased its position in shares of NextEra Energy by 17.7% in the second quarter. Private Capital Management LLC now owns 9,316 shares of the utilities provider’s stock valued at $722,000 after acquiring an additional 1,398 shares during the period. Somerville Kurt F raised its stake in shares of NextEra Energy by 29.7% during the first quarter. Somerville Kurt F now owns 6,550 shares of the utilities provider’s stock valued at $554,000 after acquiring an additional 1,500 shares during the last quarter. West Michigan Advisors LLC boosted its holdings in shares of NextEra Energy by 31.2% during the first quarter. West Michigan Advisors LLC now owns 6,335 shares of the utilities provider’s stock worth $537,000 after purchasing an additional 1,508 shares during the period. Finally, Ethic Inc. grew its stake in shares of NextEra Energy by 24.7% in the first quarter. Ethic Inc. now owns 4,788 shares of the utilities provider’s stock worth $406,000 after purchasing an additional 947 shares during the last quarter. Institutional investors own 76.17% of the company’s stock.

About NextEra Energy

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NextEra Energy, Inc is an electric power and energy infrastructure company. It operates through the following segments: FPL and NEER. The FPL segment engages primarily in the generation, transmission, distribution, and sale of electric energy in Florida. The NEER segment produces electricity from clean and renewable sources, including wind and solar.