NextEra Energy (NYSE:NEE) Issues FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) issued an update on its FY24 earnings guidance on Tuesday morning. 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 FY 2024 guidance to 3.230-3.430 EPS.

NextEra Energy Stock Down 0.6 %

NYSE NEE traded down $0.38 on Wednesday, hitting $65.82. 2,571,171 shares of the stock traded hands, compared to its average volume of 11,817,037. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $60.26 and a 200 day moving average of $58.83. The company has a market capitalization of $135.09 billion, a P/E 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.

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

NextEra Energy Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 3.13%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, February 26th. NextEra Energy’s dividend payout ratio is 57.06%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley increased their price objective on NextEra Energy from $77.00 to $79.00 and gave the stock an overweight rating in a report on Monday. Mizuho increased their price objective on NextEra Energy from $67.00 to $71.00 and gave the stock a buy rating in a report on Wednesday. Royal Bank of Canada reissued an outperform rating and issued a $74.00 price objective on shares of NextEra Energy in a report on Tuesday, January 30th. Guggenheim increased their price objective on NextEra Energy from $70.00 to $80.00 and gave the stock a buy rating in a report on Monday, January 22nd. Finally, Wells Fargo & Company increased their price target on NextEra Energy from $84.00 to $85.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $71.21.

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.