NextEra Energy, Inc. (NEE) Issues Earnings Results
NextEra Energy, Inc. (NYSE:NEE) announced its quarterly earnings data on Thursday. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.08, Bloomberg Earnings reports. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.89 billion. NextEra Energy had a return on equity of 11.88% and a net margin of 24.26%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.74 earnings per share. NextEra Energy updated its FY17 guidance to $6.35-6.85 EPS and its FY18 guidance to $6.80-7.30 EPS.
NextEra Energy (NYSE NEE) traded up 1.60% during mid-day trading on Friday, hitting $155.84. The company’s stock had a trading volume of 1,451,836 shares. The firm’s 50-day moving average is $149.37 and its 200-day moving average is $143.23. The company has a market cap of $73.13 billion, a P/E ratio of 17.85 and a beta of 0.31. NextEra Energy has a 12-month low of $110.49 and a 12-month high of $156.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be issued a $0.9825 dividend. This represents a $3.93 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, November 22nd. NextEra Energy’s payout ratio is 45.02%.
In other news, Director James L. Robo sold 30,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $147.05, for a total transaction of $4,411,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph T. Kelliher sold 2,000 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,385 shares of company stock valued at $9,614,382. Company insiders own 0.53% of the company’s stock.
A number of brokerages have issued reports on NEE. BidaskClub upgraded NextEra Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Morgan Stanley lifted their price objective on NextEra Energy from $163.00 to $167.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Bank of America Corporation began coverage on NextEra Energy in a research note on Tuesday. They set a “buy” rating and a $166.00 price objective for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $147.00 price objective (up previously from $144.00) on shares of NextEra Energy in a research note on Sunday, July 9th. Finally, Zacks Investment Research cut NextEra Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $154.69.
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NextEra Energy Company Profile
NextEra Energy, Inc (NEE) is a holding company. The Company is an electric power companies in North America and, through its subsidiary NextEra Energy Resources, LLC (NEER) and its affiliated entities, is the generator of renewable energy from the wind and sun. NEE also owns and/or operates generation, transmission and distribution facilities to support its services to retail and wholesale customers, and has investments in gas infrastructure assets.
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