NextEra Energy (NYSE:NEE) Issues FY23 Earnings Guidance

NextEra Energy (NYSE:NEEGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.98-3.13 for the period, compared to the consensus earnings per share estimate of $3.11.

Wall Street Analyst Weigh In

NEE has been the topic of a number of research analyst reports. StockNews.com started coverage on shares of NextEra Energy in a report on Wednesday, October 12th. They issued a hold rating on the stock. Wells Fargo & Company upped their price target on NextEra Energy from $105.00 to $110.00 and gave the stock an overweight rating in a research note on Tuesday, January 10th. BMO Capital Markets lifted their price objective on NextEra Energy from $89.00 to $91.00 and gave the company an outperform rating in a research note on Monday, October 31st. Morgan Stanley raised their price target on shares of NextEra Energy from $98.00 to $100.00 and gave the company an overweight rating in a report on Monday. Finally, Credit Suisse Group boosted their price objective on shares of NextEra Energy to $89.00 in a research note on Tuesday, November 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, NextEra Energy has an average rating of Moderate Buy and an average price target of $94.40.

NextEra Energy Price Performance

Shares of NEE stock opened at $83.90 on Wednesday. NextEra Energy has a twelve month low of $67.22 and a twelve month high of $91.35. The company has a market capitalization of $166.72 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 firm has a fifty day simple moving average of $84.31 and a 200-day simple moving average of $83.10.

NextEra Energy (NYSE:NEEGet Rating) last posted its quarterly earnings data on Friday, October 28th. The utilities provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.06. NextEra Energy had a net margin of 19.30% and a return on equity of 12.27%. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue for the quarter was up 53.4% on a year-over-year basis. Equities research analysts anticipate that NextEra Energy will post 2.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Miguel Arechabala sold 21,231 shares of the stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $85.37, for a total transaction of $1,812,490.47. Following the completion of the transaction, the executive vice president now directly owns 29,980 shares in the company, valued at approximately $2,559,392.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Miguel Arechabala sold 21,231 shares of the company’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $85.37, for a total value of $1,812,490.47. Following the sale, the executive vice president now directly owns 29,980 shares of the company’s stock, valued at $2,559,392.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert Coffey sold 2,908 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $78.19, for a total transaction of $227,376.52. Following the transaction, the executive vice president now owns 11,489 shares in the company, valued at $898,324.91. The disclosure for this sale can be found here. Insiders have sold 46,617 shares of company stock worth $3,962,217 in the last three months. 0.43% of the stock is owned by insiders.

Institutional Trading of NextEra Energy

Several institutional investors and hedge funds have recently bought and sold shares of NEE. GM Advisory Group Inc. raised its position in shares of NextEra Energy by 2.0% during the 1st quarter. GM Advisory Group Inc. now owns 9,139 shares of the utilities provider’s stock valued at $774,000 after acquiring an additional 178 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of NextEra Energy by 1.6% during the first quarter. Evergreen Capital Management LLC now owns 14,420 shares of the utilities provider’s stock worth $1,221,000 after purchasing an additional 228 shares during the period. Renaissance Group LLC lifted its position in shares of NextEra Energy by 2.1% in the 1st quarter. Renaissance Group LLC now owns 11,567 shares of the utilities provider’s stock worth $980,000 after buying an additional 235 shares during the last quarter. KC Investment Advisors LLC boosted its holdings in shares of NextEra Energy by 2.3% in the 1st quarter. KC Investment Advisors LLC now owns 12,703 shares of the utilities provider’s stock valued at $1,076,000 after buying an additional 283 shares during the period. Finally, Covestor Ltd boosted its holdings in shares of NextEra Energy by 59.1% in the 1st quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock valued at $74,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds 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.

See Also

Earnings History and Estimates for NextEra Energy (NYSE:NEE)

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