NextEra Energy (NYSE:NEE) Releases Earnings Results, Beats Estimates By $0.03 EPS

NextEra Energy (NYSE:NEE) issued its quarterly earnings results on Wednesday. The utilities provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03, Briefing.com reports. The company had revenue of $6.07 billion for the quarter, compared to analyst estimates of $7.29 billion. NextEra Energy had a return on equity of 11.75% and a net margin of 24.45%. During the same period last year, the company earned $0.88 earnings per share. NextEra Energy updated its FY24 guidance to $3.23-3.43 EPS and its FY25 guidance to $3.45-3.70 EPS.

NextEra Energy Trading Up 1.1 %

NEE traded up $0.82 during trading on Friday, reaching $74.26. The company had a trading volume of 7,076,174 shares, compared to its average volume of 10,298,145. The firm’s 50-day simple moving average is $73.90 and its 200 day simple moving average is $66.05. The company has a market cap of $152.57 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.52 and a beta of 0.54. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $80.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.43 and a current ratio of 0.49.

NextEra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 2.77%. NextEra Energy’s dividend payout ratio is currently 56.13%.

Analyst Upgrades and Downgrades

NEE has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on NextEra Energy from $79.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Evercore ISI raised their price target on NextEra Energy from $70.00 to $75.00 and gave the company an “in-line” rating in a report on Wednesday, June 12th. Scotiabank lifted their target price on NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a report on Monday, April 22nd. Wells Fargo & Company reaffirmed an “overweight” rating and set a $95.00 target price on shares of NextEra Energy in a report on Wednesday, June 12th. Finally, StockNews.com raised NextEra Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.00.

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.