NextEra Energy (NYSE:NEE) Updates FY24 Earnings Guidance

NextEra Energy (NYSE:NEE) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

NextEra Energy Stock Performance

Shares of NEE opened at $66.90 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. NextEra Energy has a 52-week low of $47.15 and a 52-week high of $78.53. The company has a 50-day simple moving average of $60.67 and a 200-day simple moving average of $58.94. The company has a market capitalization of $137.45 billion, a PE ratio of 18.23, a P/E/G ratio of 2.45 and a beta of 0.51.

NextEra Energy (NYSE:NEE) last posted its quarterly earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.11. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.84 EPS. Equities research analysts predict that NextEra Energy will post 3.4 earnings per share for the current fiscal year.

NextEra Energy Increases Dividend

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

Wall Street Analyst Weigh In

NEE has been the topic of a number of research reports. Royal Bank of Canada reissued an outperform rating and issued a $74.00 price objective on shares of NextEra Energy in a research note on Tuesday, January 30th. Bank of America upped their target price on NextEra Energy from $61.00 to $67.00 and gave the company a neutral rating in a research note on Tuesday. Barclays assumed coverage on NextEra Energy in a research report on Wednesday, April 10th. They set an equal weight rating and a $66.00 price target for the company. BMO Capital Markets increased their price objective on NextEra Energy from $70.00 to $72.00 and gave the company an outperform rating in a research note on Thursday. Finally, Mizuho boosted their target price on shares of NextEra Energy from $67.00 to $71.00 and gave the company a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $71.50.

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.