NextEra Energy (NYSE:NEE) Updates FY24 Earnings Guidance

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

NextEra Energy Stock Performance

Shares of NEE stock traded down $0.38 during trading hours on Wednesday, reaching $65.82. The company had a trading volume of 2,571,171 shares, compared to its average volume of 11,817,037. The business has a fifty day moving average price of $60.26 and a 200-day moving average price of $58.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.47 and a current ratio of 0.55. The firm has a market cap of $135.09 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.51. NextEra Energy has a one year low of $47.15 and a one year high of $79.10.

NextEra Energy (NYSE:NEE) last announced its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. Sell-side analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.13%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. NextEra Energy’s payout ratio is 57.06%.

Analyst Ratings Changes

A number of equities analysts have weighed in on NEE shares. Wells Fargo & Company upped their price target on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Morgan Stanley boosted their target price on shares of NextEra Energy from $77.00 to $79.00 and gave the stock an overweight rating in a report on Monday. Barclays assumed coverage on shares of NextEra Energy in a report on Wednesday, April 10th. They issued an equal weight rating and a $66.00 target price on the stock. StockNews.com raised shares of NextEra Energy from a sell rating to a hold rating in a report on Monday. Finally, Royal Bank of Canada reissued an outperform rating and issued a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $71.21.

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.