NextEra Energy (NYSE:NEE) Issues FY 2024 Earnings Guidance

NextEra Energy (NYSE:NEE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.230-3.430 for the period, compared to the consensus EPS estimate of 3.400. The company issued revenue guidance of -. NextEra Energy also updated its FY 2025 guidance to 3.450-3.700 EPS.

NextEra Energy Trading Up 0.3 %

Shares of NYSE NEE traded up $0.17 during midday trading on Wednesday, reaching $66.37. The stock had a trading volume of 4,255,337 shares, compared to its average volume of 11,839,445. The firm has a market cap of $136.22 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. NextEra Energy has a twelve month low of $47.15 and a twelve month high of $79.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.47 and a current ratio of 0.55. The company’s 50 day moving average price is $60.26 and its 200 day moving average price is $58.83.

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

NextEra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s payout ratio is presently 57.06%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of NextEra Energy from a sell rating to a hold rating in a research report on Monday. Royal Bank of Canada restated an outperform rating and set a $74.00 price objective on shares of NextEra Energy in a report on Tuesday, January 30th. Bank of America upped their price objective on shares of NextEra Energy from $61.00 to $67.00 and gave the stock a neutral rating in a report on Tuesday. Scotiabank upped their price objective on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a sector outperform rating in a report on Monday. Finally, BMO Capital Markets lowered their price objective on shares of NextEra Energy from $77.00 to $68.00 and set an outperform rating on the stock in a report on Tuesday, April 16th. One equities research 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 has a consensus rating of Moderate Buy and a consensus price target of $71.21.

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.