Seaport Res Ptn Expects Stronger Earnings for NextEra Energy

NextEra Energy, Inc. (NYSE:NEE) – Equities researchers at Seaport Res Ptn increased their FY2024 earnings per share estimates for shares of NextEra Energy in a report released on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will earn $3.43 per share for the year, up from their previous forecast of $3.41. The consensus estimate for NextEra Energy’s current full-year earnings is $3.41 per share.

NEE has been the subject of a number of other reports. BMO Capital Markets increased their target price on shares of NextEra Energy from $83.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley boosted their target price on NextEra Energy from $87.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Guggenheim increased their price target on NextEra Energy from $90.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada cut NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Dbs Bank downgraded shares of NextEra Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.54.

NextEra Energy Stock Performance

NYSE NEE opened at $77.35 on Friday. The stock’s 50 day simple moving average is $82.39 and its 200-day simple moving average is $76.77. NextEra Energy has a 1-year low of $53.81 and a 1-year high of $86.10. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The company has a market cap of $159.06 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 2.86 and a beta of 0.56.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings data on Wednesday, October 23rd. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. NextEra Energy had a net margin of 26.49% and a return on equity of 11.94%. The business had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same period last year, the firm posted $0.94 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s dividend payout ratio is currently 60.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NEE. Reston Wealth Management LLC purchased a new stake in shares of NextEra Energy in the 3rd quarter valued at approximately $27,000. Semmax Financial Advisors Inc. raised its holdings in shares of NextEra Energy by 197.4% in the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock valued at $26,000 after buying an additional 225 shares during the last quarter. Proffitt & Goodson Inc. boosted its stake in shares of NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after buying an additional 144 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of NextEra Energy during the second quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. acquired a new position in NextEra Energy in the 3rd quarter valued at about $39,000. 78.72% of the stock is owned by institutional investors and hedge funds.

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.