FY2024 Earnings Estimate for NextEra Energy, Inc. Issued By Seaport Res Ptn (NYSE:NEE)

NextEra Energy, Inc. (NYSE:NEEFree Report) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of NextEra Energy in a research report issued to clients and investors on Monday, March 18th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $3.38 per share for the year, up from their prior forecast of $3.36. The consensus estimate for NextEra Energy’s current full-year earnings is $3.44 per share. Seaport Res Ptn also issued estimates for NextEra Energy’s FY2025 earnings at $3.71 EPS.

NextEra Energy (NYSE:NEEGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. NextEra Energy had a return on equity of 11.73% and a net margin of 26.00%. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share.

Several other equities analysts also recently commented on the company. Guggenheim upped their price objective on NextEra Energy from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. boosted their target price on shares of NextEra Energy from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 29th. Mizuho reissued a “buy” rating and set a $67.00 target price (up previously from $65.00) on shares of NextEra Energy in a report on Friday, March 15th. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 target price on shares of NextEra Energy in a report on Tuesday, January 30th. Finally, Citigroup initiated coverage on shares of NextEra Energy in a report on Friday, December 8th. They set a “buy” rating and a $69.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.46.

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NextEra Energy Price Performance

NextEra Energy stock opened at $62.17 on Wednesday. NextEra Energy has a 12 month low of $47.15 and a 12 month high of $79.78. The company has a current ratio of 0.55, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06. The business’s 50 day simple moving average is $57.64 and its 200 day simple moving average is $58.74. The company has a market cap of $127.60 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.14 and a beta of 0.50.

NextEra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 3.31%. This is a positive change from NextEra Energy’s previous quarterly dividend of $0.47. The ex-dividend date was Monday, February 26th. NextEra Energy’s dividend payout ratio is presently 57.06%.

Institutional Trading of NextEra Energy

Several institutional investors have recently added to or reduced their stakes in NEE. United Bank raised its stake in NextEra Energy by 9.8% in the first quarter. United Bank now owns 9,966 shares of the utilities provider’s stock worth $844,000 after buying an additional 891 shares in the last quarter. LSV Asset Management raised its stake in NextEra Energy by 9.2% in the first quarter. LSV Asset Management now owns 32,180 shares of the utilities provider’s stock worth $2,726,000 after buying an additional 2,700 shares in the last quarter. Brown Brothers Harriman & Co. raised its stake in NextEra Energy by 11.2% in the first quarter. Brown Brothers Harriman & Co. now owns 15,731 shares of the utilities provider’s stock worth $1,333,000 after buying an additional 1,587 shares in the last quarter. Covestor Ltd raised its stake in NextEra Energy by 59.1% in the first quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock worth $74,000 after buying an additional 326 shares in the last quarter. Finally, Ergoteles LLC bought a new position in NextEra Energy in the first quarter worth about $793,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

About NextEra Energy

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for NextEra Energy (NYSE:NEE)

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