Analysts Set Expectations for NextEra Energy FY2024 Earnings

NextEra Energy, Inc. (NYSE:NEE) – Stock analysts at Seaport Res Ptn boosted their FY2024 earnings per share estimates for shares of NextEra Energy in a research note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings per share of $3.43 for the year, up from their prior forecast of $3.41. The consensus estimate for NextEra Energy’s current full-year earnings is $3.41 per share.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The firm 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 11.94% and a net margin of 26.49%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS.

Several other analysts also recently issued reports on NEE. Scotiabank increased their price objective on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began 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. JPMorgan Chase & Co. increased their price target on NextEra Energy from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Barclays upped their target price on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, 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. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.54.

NextEra Energy Stock Performance

Shares of NYSE:NEE opened at $79.25 on Friday. The business’s 50-day simple moving average is $82.43 and its 200 day simple moving average is $76.57. The company has a market cap of $162.97 billion, a P/E ratio of 23.45, a PEG ratio of 2.86 and a beta of 0.56. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.33 and a current ratio of 0.41. NextEra Energy has a one year low of $53.81 and a one year high of $86.10.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a $0.515 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.60%. NextEra Energy’s dividend payout ratio (DPR) is presently 60.95%.

Institutional Trading of NextEra Energy

Hedge funds have recently bought and sold shares of the company. M&G Plc bought a new stake in shares of NextEra Energy during the first quarter valued at approximately $303,065,000. International Assets Investment Management LLC raised its position in shares of NextEra Energy by 8,641.5% during the 3rd quarter. International Assets Investment Management LLC now owns 3,861,208 shares of the utilities provider’s stock worth $326,388,000 after buying an additional 3,817,037 shares in the last quarter. Zimmer Partners LP grew its holdings in NextEra Energy by 8,447.5% during the first quarter. Zimmer Partners LP now owns 2,735,200 shares of the utilities provider’s stock worth $174,807,000 after acquiring an additional 2,703,200 shares during the period. Assenagon Asset Management S.A. raised its position in NextEra Energy by 4,058.2% in the third quarter. Assenagon Asset Management S.A. now owns 2,366,795 shares of the utilities provider’s stock worth $200,065,000 after acquiring an additional 2,309,876 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of NextEra Energy by 57.0% during the 2nd quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after purchasing an additional 2,163,437 shares in the last quarter. 78.72% of the stock is currently owned by institutional investors.

About NextEra Energy

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.