NextEra Energy (NYSE:NEE) Releases 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 FY25 guidance to $3.45-3.70 EPS.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NEE shares. StockNews.com upgraded shares of NextEra Energy from a sell rating to a hold rating in a research note on Monday. Barclays started 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. Mizuho reiterated a buy rating and issued a $67.00 price objective (up from $65.00) on shares of NextEra Energy in a research note on Friday, March 15th. Scotiabank lifted 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. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $74.00 price objective on shares of NextEra Energy in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $69.93.

NextEra Energy Stock Up 1.6 %

Shares of NYSE:NEE opened at $65.31 on Tuesday. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $79.25. The firm has a fifty day moving average of $60.04 and a 200 day moving average of $58.72. The firm has a market capitalization of $134.04 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.31 and a beta of 0.51. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.47 and a current ratio of 0.55.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 earnings per share. As a group, research analysts anticipate that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a $0.515 dividend. 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 annualized dividend and a yield of 3.15%. NextEra Energy’s payout ratio is currently 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.