NextEra Energy (NYSE:NEE) Updates FY 2024 Earnings Guidance

NextEra Energy (NYSE:NEE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 3.230-3.430 for the period, compared to the consensus earnings per share estimate of 3.410. The company issued revenue guidance of -. NextEra Energy also updated its FY 2025 guidance to 3.450-3.700 EPS.

NextEra Energy Stock Down 0.2 %

Shares of NextEra Energy stock opened at $73.06 on Friday. The stock has a 50-day moving average price of $71.54 and a 200 day moving average price of $63.55. NextEra Energy has a 1 year low of $47.15 and a 1 year high of $80.47. The company has a market cap of $150.10 billion, a P/E ratio of 19.91, a P/E/G ratio of 2.68 and a beta of 0.56. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. The firm had revenue of $5.73 billion for the quarter, compared to analyst estimates of $6.28 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The company’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. As a group, analysts expect that NextEra Energy will post 3.39 EPS for the current fiscal year.

NextEra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.515 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a yield of 2.82%. NextEra Energy’s payout ratio is currently 56.13%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEE. Morgan Stanley boosted 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. Wells Fargo & Company reissued an overweight rating and set a $95.00 target price on shares of NextEra Energy in a research report on Wednesday. Scotiabank raised their price target on NextEra Energy from $69.00 to $73.00 and gave the company a sector outperform rating in a research report on Monday, April 22nd. BMO Capital Markets boosted their price objective on NextEra Energy from $78.00 to $79.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Bank of America raised their target price on NextEra Energy from $61.00 to $67.00 and gave the company a neutral rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, NextEra Energy currently has a consensus rating of Moderate Buy and an average target price of $74.86.

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.