NextEra Energy (NYSE:NEE) Releases FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.23-3.43 for the period, compared to the consensus EPS estimate of $3.41. NextEra Energy also updated its FY 2024 guidance to 3.230-3.430 EPS.

NextEra Energy Stock Performance

NYSE NEE traded up $0.11 on Wednesday, hitting $83.81. 4,664,227 shares of the stock traded hands, compared to its average volume of 10,728,722. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.41 and a current ratio of 0.49. The firm has a market capitalization of $172.19 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.92 and a beta of 0.56. NextEra Energy has a 12 month low of $53.11 and a 12 month high of $86.10. The business’s fifty day moving average is $82.05 and its two-hundred day moving average is $75.89.

NextEra Energy (NYSE:NEE) last issued its earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $6.07 billion during the quarter, compared to analyst estimates of $7.29 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. During the same quarter last year, the business earned $0.88 earnings per share. As a group, equities analysts anticipate that NextEra Energy will post 3.4 EPS for the current fiscal year.

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 paid a dividend of $0.515 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.06 annualized dividend and a yield of 2.46%. NextEra Energy’s dividend payout ratio is currently 56.13%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NEE. BMO Capital Markets upped their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Dbs Bank cut shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 27th. Barclays boosted their price objective on shares of NextEra Energy from $76.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Jefferies Financial Group began coverage on shares of NextEra Energy in a report on Thursday, September 19th. They set a “hold” rating and a $87.00 target price for the company. Finally, Scotiabank boosted their price target on NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $85.46.

Insider Transactions at NextEra Energy

In other NextEra Energy news, EVP Nicole J. Daggs sold 658 shares of the stock in a transaction 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 owns 100 shares in the company, valued at approximately $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.