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

NextEra Energy (NYSE:NEE) updated its FY 2024 earnings guidance on Tuesday. 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 Stock Down 0.8 %

Shares of NYSE:NEE traded down $0.53 during trading on Friday, reaching $66.37. 994,534 shares of the stock traded hands, compared to its average volume of 11,796,649. The stock has a 50-day moving average of $60.67 and a two-hundred day moving average of $58.94. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $78.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.51. The stock has a market cap of $136.36 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. NextEra Energy’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. As a group, sell-side analysts expect that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

Analysts Set New Price Targets

A number of analysts have issued reports on NEE shares. BMO Capital Markets lifted their price objective on NextEra Energy from $70.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday. Royal Bank of Canada reiterated an outperform rating and set a $74.00 price target on shares of NextEra Energy in a report on Tuesday, January 30th. StockNews.com upgraded shares of NextEra Energy from a sell rating to a hold rating in a research note on Monday. Barclays initiated coverage on shares of 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. Finally, Mizuho lifted their price target on shares of NextEra Energy from $67.00 to $71.00 and gave the stock a buy rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, NextEra Energy has an average rating of Moderate Buy and an average price target of $71.50.

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.