FY2024 EPS Estimates for NextEra Energy Reduced by KeyCorp

NextEra Energy, Inc. (NYSE:NEE) – Analysts at KeyCorp cut their FY2024 earnings estimates for NextEra Energy in a research report issued on Tuesday, December 3rd. KeyCorp analyst S. Karp now expects that the utilities provider will post earnings per share of $3.36 for the year, down from their prior forecast of $3.39. The consensus estimate for NextEra Energy’s current full-year earnings is $3.41 per share. KeyCorp also issued estimates for NextEra Energy’s FY2028 earnings at $4.52 EPS.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company increased their target price on shares of NextEra Energy from $95.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Morgan Stanley decreased their price objective on NextEra Energy from $95.00 to $94.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Barclays boosted their price objective on NextEra Energy from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Bank of America lifted their price target on shares of NextEra Energy from $77.00 to $81.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Scotiabank boosted their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.85.

NextEra Energy Price Performance

Shares of NextEra Energy stock opened at $75.24 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.41 and a quick ratio of 0.33. The company has a market cap of $154.72 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.76 and a beta of 0.56. The firm has a fifty day moving average price of $79.68 and a two-hundred day moving average price of $77.83. NextEra Energy has a fifty-two week low of $53.95 and a fifty-two week high of $86.10.

NextEra Energy (NYSE:NEE) last issued its quarterly earnings results on Wednesday, October 23rd. The utilities provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a return on equity of 11.94% and a net margin of 26.49%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share.

NextEra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is 60.95%.

Insider Activity

In other news, EVP Nicole J. Daggs sold 4,007 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $75.57, for a total value of $302,808.99. Following the completion of the sale, the executive vice president now directly owns 15,792 shares in the company, valued at approximately $1,193,401.44. This trade represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NextEra Energy

A number of hedge funds have recently added to or reduced their stakes in NEE. Border to Coast Pensions Partnership Ltd grew its stake in shares of NextEra Energy by 2.2% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 1,216,077 shares of the utilities provider’s stock valued at $102,495,000 after purchasing an additional 26,270 shares during the last quarter. Swiss National Bank boosted its position in NextEra Energy by 0.4% in the 3rd quarter. Swiss National Bank now owns 6,098,200 shares of the utilities provider’s stock valued at $515,481,000 after buying an additional 21,400 shares during the last quarter. Dillon & Associates Inc. increased its stake in shares of NextEra Energy by 16.0% in the 3rd quarter. Dillon & Associates Inc. now owns 59,320 shares of the utilities provider’s stock valued at $5,042,000 after buying an additional 8,184 shares during the period. Magnolia Capital Advisors LLC raised its position in shares of NextEra Energy by 1,224.3% during the second quarter. Magnolia Capital Advisors LLC now owns 72,453 shares of the utilities provider’s stock worth $5,130,000 after acquiring an additional 66,982 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of NextEra Energy by 57.0% during the second quarter. Raymond James & Associates now owns 5,957,220 shares of the utilities provider’s stock valued at $421,831,000 after acquiring an additional 2,163,437 shares during the period. Institutional investors own 78.72% of the company’s stock.

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.