NextEra Energy (NYSE:NEE) Issues FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.23-3.43 for the period, compared to the consensus earnings per share estimate of $3.41. NextEra Energy also updated its FY 2024 guidance to 3.230-3.430 EPS.

NextEra Energy Stock Down 0.3 %

NextEra Energy stock traded down $0.24 during trading on Friday, reaching $82.57. 1,716,906 shares of the company’s stock were exchanged, compared to its average volume of 10,710,005. NextEra Energy has a 52-week low of $53.81 and a 52-week high of $86.10. The firm has a market cap of $169.64 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 2.92 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. The company’s 50-day moving average is $82.30 and its two-hundred day moving average is $76.01.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $8.11 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, analysts predict that NextEra Energy will post 3.4 earnings per share for the current year.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.49%. NextEra Energy’s payout ratio is currently 56.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NEE shares. Morgan Stanley lifted their price target on shares of NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Dbs Bank downgraded NextEra Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, September 27th. BMO Capital Markets lifted their price objective on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Jefferies Financial Group started coverage on NextEra Energy in a research note on Thursday, September 19th. They set a “hold” rating and a $87.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.38.

Insiders Place Their Bets

In other news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total transaction of $50,646.26. Following the completion of the transaction, the executive vice president now directly owns 100 shares of the company’s stock, valued at approximately $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.