NextEra Energy (NYSE:NEE) Issues FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.23-3.43 for the period, compared to the consensus estimate of $3.40. NextEra Energy also updated its FY 2024 guidance to 3.230-3.430 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEE. Wells Fargo & Company increased their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a research note on Tuesday, March 19th. Scotiabank raised their price objective on shares of NextEra Energy from $69.00 to $73.00 and gave the company a sector outperform 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 price objective for the company. StockNews.com upgraded shares of NextEra Energy from a sell rating to a hold rating in a research note on Monday. Finally, Guggenheim raised their price objective on shares of NextEra Energy from $70.00 to $80.00 and gave the company a buy rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $69.93.

NextEra Energy Stock Performance

Shares of NEE opened at $65.19 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. The stock has a market cap of $133.80 billion, a P/E ratio of 18.09, a PEG ratio of 2.31 and a beta of 0.51. The company has a 50-day moving average of $60.04 and a two-hundred day moving average of $58.72. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $79.25.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. The business 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 26.00% and a return on equity of 11.73%. The company’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts predict that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.515 per share. 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. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.16%. NextEra Energy’s payout ratio is 57.06%.

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.