NextEra Energy (NYSE:NEE) Updates FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.23-3.43 for the period, compared to the consensus EPS estimate of $3.40. NextEra Energy also updated its FY25 guidance to $3.45-3.70 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEE. Morgan Stanley raised their target price on NextEra Energy from $77.00 to $79.00 and gave the stock an overweight rating in a research note on Monday. Barclays began coverage on NextEra Energy in a research note on Wednesday, April 10th. They issued an equal weight rating and a $66.00 target price for the company. Mizuho restated a buy rating and issued a $67.00 target price (up previously from $65.00) on shares of NextEra Energy in a research note on Friday, March 15th. Scotiabank raised their target price on NextEra Energy from $69.00 to $73.00 and gave the stock a sector outperform rating in a research note on Monday. Finally, Royal Bank of Canada restated an outperform rating and issued a $74.00 target price on shares of NextEra Energy in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $69.93.

NextEra Energy Trading Up 1.6 %

NEE stock opened at $65.31 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $79.25. The stock has a market cap of $134.04 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 2.31 and a beta of 0.51. The business’s 50-day moving average is $60.04 and its 200 day moving average is $58.72.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. The company had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the firm posted $0.84 EPS. NextEra Energy’s revenue was down 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 3.15%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s payout ratio is presently 57.06%.

About NextEra Energy

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.