NextEra Energy Inc (NYSE:NEE) announced a quarterly dividend on Friday, October 12th, RTT News reports. Stockholders of record on Friday, November 30th will be paid a dividend of 1.11 per share by the utilities provider on Monday, December 17th. This represents a $4.44 annualized dividend and a dividend yield of 2.63%.
NextEra Energy has increased its dividend payment by an average of 21.8% per year over the last three years and has raised its dividend every year for the last 8 years. NextEra Energy has a payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Analysts expect NextEra Energy to earn $8.34 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 53.2%.
Shares of NEE traded down $0.27 during mid-day trading on Friday, hitting $168.82. 122,476 shares of the stock were exchanged, compared to its average volume of 1,966,393. The stock has a market capitalization of $79.04 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 2.58 and a beta of 0.20. NextEra Energy has a 52-week low of $145.10 and a 52-week high of $175.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.58 and a quick ratio of 0.46.
NextEra Energy (NYSE:NEE) last released its quarterly earnings results on Wednesday, July 25th. The utilities provider reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.06 by $0.05. NextEra Energy had a return on equity of 10.49% and a net margin of 49.10%. The company had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. NextEra Energy’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts expect that NextEra Energy will post 7.76 earnings per share for the current year.
In other NextEra Energy news, Treasurer Paul I. Cutler sold 11,016 shares of the stock in a transaction on Wednesday, October 10th. The stock was sold at an average price of $175.08, for a total value of $1,928,681.28. Following the sale, the treasurer now owns 102,291 shares in the company, valued at $17,909,108.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Treasurer Paul I. Cutler sold 7,639 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $173.30, for a total value of $1,323,838.70. Following the completion of the sale, the treasurer now owns 98,914 shares in the company, valued at approximately $17,141,796.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,024 shares of company stock worth $12,742,375. Insiders own 0.55% of the company’s stock.
Several analysts recently weighed in on the company. Howard Weil assumed coverage on NextEra Energy in a report on Tuesday, July 24th. They set a “sector perform” rating on the stock. Wells Fargo & Co increased their price target on NextEra Energy from $191.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley decreased their price target on NextEra Energy from $186.00 to $184.00 and set a “buy” rating on the stock in a report on Friday, September 21st. Zacks Investment Research upgraded NextEra Energy from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a report on Wednesday, August 8th. Finally, Barclays assumed coverage on NextEra Energy in a report on Tuesday, July 10th. They set an “equal weight” rating and a $182.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. NextEra Energy presently has a consensus rating of “Buy” and a consensus price target of $170.64.
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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