NextEra Energy (NYSE:NEE) Releases FY 2024 Earnings Guidance

NextEra Energy (NYSE:NEE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.230-3.430 for the period, compared to the consensus estimate of 3.410. The company issued revenue guidance of -. NextEra Energy also updated its FY 2025 guidance to 3.450-3.700 EPS.

NextEra Energy Price Performance

NEE opened at $81.43 on Friday. NextEra Energy has a 1 year low of $53.81 and a 1 year high of $86.10. The stock has a 50-day moving average price of $82.36 and a 200-day moving average price of $76.12. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.49 and a quick ratio of 0.41. The firm has a market cap of $167.30 billion, a PE ratio of 22.19, a P/E/G ratio of 2.92 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. Sell-side analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.53%. NextEra Energy’s dividend payout ratio (DPR) is 56.13%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NEE. Scotiabank raised their price target on NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Bank of America boosted their price target on NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group assumed coverage on NextEra Energy in a research note on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target on the stock. Finally, BMO Capital Markets increased their target price on NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $86.54.

Insider Activity

In related news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $76.97, for a total value 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 $7,697. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.