NextEra Energy (NYSE:NEE) Issues 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 Analyst Weigh In

Several brokerages have recently commented on NEE. Barclays began coverage on NextEra Energy in a report on Wednesday, April 10th. They issued an equal weight rating and a $66.00 target price on the stock. BMO Capital Markets boosted their target price on NextEra Energy from $70.00 to $72.00 and gave the stock an outperform rating in a report on Thursday. StockNews.com raised NextEra Energy from a sell rating to a hold rating in a report on Monday. Royal Bank of Canada restated an outperform rating and issued a $74.00 price objective on shares of NextEra Energy in a research report on Tuesday, January 30th. Finally, Bank of America boosted their price objective on shares of NextEra Energy from $61.00 to $67.00 and gave the stock a neutral rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $71.50.

NextEra Energy Trading Up 0.5 %

Shares of NextEra Energy stock traded up $0.34 on Thursday, hitting $66.90. 11,369,761 shares of the company’s stock traded hands, compared to its average volume of 11,936,405. The firm’s 50-day moving average price is $60.67 and its two-hundred day moving average price is $58.94. The stock has a market capitalization of $137.31 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.38 and a beta of 0.51. NextEra Energy has a one year low of $47.15 and a one year high of $78.53. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.47.

NextEra Energy (NYSE:NEE) last issued its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.80 by $0.11. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The business’s revenue for the quarter was down 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS. On average, research analysts expect that NextEra Energy will post 3.4 EPS for the current fiscal year.

NextEra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a $0.515 dividend. The ex-dividend date was Monday, February 26th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio is currently 56.13%.

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.