NextEra Energy (NYSE:NEE) Releases Earnings Results, Beats Expectations By $0.03 EPS

NextEra Energy (NYSE:NEE) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03, Briefing.com reports. The business had revenue of $6.07 billion during the quarter, compared to analysts’ expectations of $7.29 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. During the same period in the previous year, the company earned $0.88 earnings per share. NextEra Energy updated its FY24 guidance to $3.23-3.43 EPS and its FY25 guidance to $3.45-3.70 EPS.

NextEra Energy Price Performance

Shares of NEE traded down $1.97 during trading hours on Thursday, hitting $73.44. The stock had a trading volume of 13,932,755 shares, compared to its average volume of 11,755,793. The company’s fifty day moving average is $74.00 and its two-hundred day moving average is $65.92. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43. NextEra Energy has a 52 week low of $47.15 and a 52 week high of $80.47. The stock has a market capitalization of $150.88 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.47 and a beta of 0.54.

NextEra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.81%. NextEra Energy’s payout ratio is 56.13%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup upped their target price on shares of NextEra Energy from $69.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy from $76.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Bank of America upped their target price on shares of NextEra Energy from $61.00 to $67.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their target price on shares of NextEra Energy from $74.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $95.00 target price on shares of NextEra Energy in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.79.

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.