Analysts Set Expectations for NextEra Energy, Inc.’s Q2 2024 Earnings (NYSE:NEE)

NextEra Energy, Inc. (NYSE:NEE) – Investment analysts at KeyCorp issued their Q2 2024 EPS estimates for shares of NextEra Energy in a research report issued to clients and investors on Monday, July 22nd. KeyCorp analyst S. Karp anticipates that the utilities provider will post earnings per share of $0.94 for the quarter. The consensus estimate for NextEra Energy’s current full-year earnings is $3.40 per share. KeyCorp also issued estimates for NextEra Energy’s FY2028 earnings at $4.52 EPS.

NextEra Energy (NYSE:NEE) last announced its quarterly earnings results on Wednesday, July 24th. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $7.29 billion. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. During the same quarter last year, the firm earned $0.88 EPS.

A number of other equities research analysts have also issued reports on the stock. Bank of America raised their price target on shares of NextEra Energy from $61.00 to $67.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. 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. Barclays dropped their target price on shares of NextEra Energy from $73.00 to $72.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Morgan Stanley raised their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of NextEra Energy from $76.00 to $90.00 and gave the stock an “overweight” rating in a research 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 issued a buy rating to the company. According to data from MarketBeat.com, NextEra Energy has a consensus rating of “Moderate Buy” and a consensus target price of $77.79.

NextEra Energy Price Performance

Shares of NextEra Energy stock opened at $73.44 on Wednesday. The firm has a market cap of $150.88 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 2.47 and a beta of 0.54. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $80.47. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.12. The company’s fifty day simple moving average is $73.94 and its two-hundred day simple moving average is $65.97.

Hedge Funds Weigh In On NextEra Energy

Several hedge funds have recently modified their holdings of the stock. Catalyst Capital Advisors LLC raised its stake in NextEra Energy by 560.7% during the second quarter. Catalyst Capital Advisors LLC now owns 1,612 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 1,368 shares in the last quarter. New Millennium Group LLC purchased a new stake in NextEra Energy during the second quarter valued at $90,000. Hills Bank & Trust Co raised its stake in NextEra Energy by 3.6% during the second quarter. Hills Bank & Trust Co now owns 18,626 shares of the utilities provider’s stock valued at $1,319,000 after purchasing an additional 653 shares in the last quarter. Cypress Capital Group raised its stake in NextEra Energy by 1.8% during the second quarter. Cypress Capital Group now owns 44,670 shares of the utilities provider’s stock valued at $3,163,000 after purchasing an additional 782 shares in the last quarter. Finally, Raymond James Trust N.A. raised its stake in NextEra Energy by 8.5% during the second quarter. Raymond James Trust N.A. now owns 230,648 shares of the utilities provider’s stock valued at $16,332,000 after purchasing an additional 18,040 shares in the last quarter. Hedge funds and other institutional investors own 78.72% of the company’s stock.

NextEra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 2.81%. NextEra Energy’s dividend payout ratio (DPR) is presently 56.13%.

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.