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

NextEra Energy (NYSE:NEE) announced its earnings results on Wednesday. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03, Briefing.com reports. The firm had revenue of $6.07 billion for 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 prior year, the company earned $0.88 EPS. NextEra Energy updated its FY24 guidance to $3.23-3.43 EPS and its FY25 guidance to $3.45-3.70 EPS.

NextEra Energy Stock Performance

Shares of NYSE:NEE traded down $1.97 on Thursday, hitting $73.44. 13,932,755 shares of the company were exchanged, compared to its average volume of 11,755,793. NextEra Energy has a 1-year low of $47.15 and a 1-year high of $80.47. The stock’s 50 day moving average price is $73.94 and its 200 day moving average price is $65.97. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $150.88 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 2.47 and a beta of 0.54.

NextEra Energy Dividend Announcement

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

Wall Street Analyst Weigh In

NEE has been the topic of a number of research reports. Scotiabank raised their target price on shares of NextEra Energy from $69.00 to $73.00 and gave the stock a “sector outperform” rating in a research report on Monday, April 22nd. BMO Capital Markets lifted their price objective on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Evercore ISI lifted their price objective on shares of NextEra Energy from $70.00 to $75.00 and gave the company an “in-line” rating in a report on Wednesday, June 12th. Morgan Stanley lifted their price objective on shares of NextEra Energy from $79.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy from $76.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. One investment 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 MarketBeat, NextEra Energy 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.