NextEra Energy (NYSE:NEE) Releases Earnings Results, Beats Estimates By $0.11 EPS

NextEra Energy (NYSE:NEE) issued its quarterly earnings results on Tuesday. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11, Briefing.com reports. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $6.28 billion. NextEra Energy had a net margin of 26.00% and a return on equity of 11.73%. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.84 EPS. NextEra Energy updated its FY24 guidance to $3.23-3.43 EPS and its FY25 guidance to $3.45-3.70 EPS.

NextEra Energy Stock Up 1.6 %

NEE stock opened at $65.31 on Tuesday. NextEra Energy has a twelve month low of $47.15 and a twelve month high of $79.25. The company has a quick ratio of 0.47, a current ratio of 0.55 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average is $60.04 and its 200-day moving average is $58.72. The firm has a market capitalization of $134.04 billion, a PE ratio of 18.09, a P/E/G ratio of 2.31 and a beta of 0.51.

NextEra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. NextEra Energy’s dividend payout ratio (DPR) is currently 57.06%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEE. Guggenheim boosted their price target on shares of NextEra Energy from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a research report on Tuesday, January 30th. Scotiabank boosted their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the company a “sector outperform” rating in a research report on Monday. Barclays started coverage on shares of NextEra Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $66.00 target price on the stock. Finally, BMO Capital Markets dropped their target price on shares of NextEra Energy from $77.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $69.93.

NextEra Energy Company Profile

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.