NextEra Energy (NYSE:NEE) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEE. StockNews.com raised shares of NextEra Energy from a sell rating to a hold rating in a report on Monday. Wells Fargo & Company upped their target price on shares of NextEra Energy from $84.00 to $85.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. BMO Capital Markets dropped their target price on shares of NextEra Energy from $77.00 to $68.00 and set an outperform rating for the company in a report on Tuesday, April 16th. Barclays began 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 for the company. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy has an average rating of Moderate Buy and a consensus price target of $69.93.

NextEra Energy Stock Down 0.2 %

Shares of NYSE NEE opened at $65.19 on Tuesday. The firm’s 50-day moving average price is $60.04 and its 200-day moving average price is $58.72. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $133.80 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.31 and a beta of 0.51. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $79.25.

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 firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The business’s revenue was down 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. On average, equities research analysts anticipate that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 3.16%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. NextEra Energy’s dividend 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.