NextEra Energy (NYSE:NEE) Updates FY24 Earnings Guidance

NextEra Energy (NYSE:NEEGet Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.23-$3.43 for the period, compared to the consensus earnings per share estimate of $3.41. NextEra Energy also updated its FY25 guidance to $3.45-$3.70 EPS.

NextEra Energy Trading Up 2.1 %

NEE opened at $77.01 on Tuesday. The firm has a market cap of $158.22 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.76 and a beta of 0.56. NextEra Energy has a 12 month low of $47.15 and a 12 month high of $80.47. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average of $70.79 and a 200 day moving average of $63.20.

NextEra Energy (NYSE:NEEGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.11. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm’s quarterly revenue was down 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, research analysts forecast that NextEra Energy will post 3.4 EPS for the current year.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, June 3rd. NextEra Energy’s payout ratio is currently 56.13%.

Analyst Upgrades and Downgrades

NEE has been the subject of several analyst reports. Morgan Stanley raised their price objective on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an overweight rating in a research note on Tuesday, May 28th. Mizuho lifted their price target on shares of NextEra Energy from $67.00 to $71.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their price target on shares of NextEra Energy from $85.00 to $95.00 and gave the company an overweight rating in a research note on Wednesday, May 15th. Scotiabank lifted their price target on shares of NextEra Energy from $69.00 to $73.00 and gave the company a sector outperform rating in a research note on Monday, April 22nd. Finally, Barclays lifted their price target on shares of NextEra Energy from $66.00 to $74.00 and gave the company an equal weight rating in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $73.50.

Check Out Our Latest Report on NextEra Energy

About NextEra Energy

(Get Free Report)

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.

See Also

Earnings History and Estimates for NextEra Energy (NYSE:NEE)

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