Seaport Res Ptn Lifts Earnings Estimates for NextEra Energy

NextEra Energy, Inc. (NYSE:NEE) – Equities research analysts at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of NextEra Energy in a report issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $3.43 per share for the year, up from their prior forecast of $3.41. The consensus estimate for NextEra Energy’s current full-year earnings is $3.41 per share.

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

Other analysts also recently issued research reports about the stock. BMO Capital Markets raised their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of NextEra Energy from $95.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Barclays lifted their price objective on shares of NextEra Energy from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on shares of NextEra Energy in a report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.54.

NextEra Energy Stock Down 2.4 %

NEE stock opened at $77.35 on Friday. NextEra Energy has a twelve month low of $53.81 and a twelve month high of $86.10. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $159.06 billion, a P/E ratio of 22.88, a PEG ratio of 2.86 and a beta of 0.56. The firm has a 50 day simple moving average of $82.39 and a 200-day simple moving average of $76.67.

Institutional Investors Weigh In On NextEra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Reston Wealth Management LLC acquired a new position in NextEra Energy during the third quarter worth about $27,000. Semmax Financial Advisors Inc. grew its holdings in NextEra Energy by 197.4% during the second quarter. Semmax Financial Advisors Inc. now owns 339 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 225 shares during the period. Proffitt & Goodson Inc. grew its holdings in NextEra Energy by 64.0% during the second quarter. Proffitt & Goodson Inc. now owns 369 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 144 shares during the period. Valley Wealth Managers Inc. acquired a new position in NextEra Energy during the second quarter worth about $33,000. Finally, Maryland Capital Advisors Inc. acquired a new position in NextEra Energy during the third quarter worth about $39,000. 78.72% of the stock is currently owned by institutional investors.

NextEra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, November 22nd. NextEra Energy’s dividend payout ratio is currently 60.95%.

NextEra Energy Company Profile

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.