Seaport Res Ptn Equities Analysts Increase Earnings Estimates for NextEra Energy, Inc. (NYSE:NEE)

NextEra Energy, Inc. (NYSE:NEE) – Analysts at Seaport Res Ptn lifted their FY2024 earnings estimates for shares of NextEra Energy in a research note issued on Tuesday, June 18th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $3.41 for the year, up from their prior forecast of $3.38. The consensus estimate for NextEra Energy’s current full-year earnings is $3.40 per share. Seaport Res Ptn also issued estimates for NextEra Energy’s FY2025 earnings at $3.68 EPS and FY2026 earnings at $3.99 EPS.

NextEra Energy (NYSE:NEE) last posted its earnings results on Tuesday, April 23rd. The utilities provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.11. NextEra Energy had a net margin of 27.62% and a return on equity of 11.72%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley raised their price target on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. 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 decreased their target price on shares of NextEra Energy from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 13th. Mizuho cut shares of NextEra Energy from a “buy” rating to a “neutral” rating and set a $71.00 target price on the stock. in a research report on Wednesday, June 12th. Finally, Royal Bank of Canada raised their target price on shares of NextEra Energy from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, NextEra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $74.86.

NextEra Energy Price Performance

NextEra Energy stock opened at $70.44 on Wednesday. NextEra Energy has a 12-month low of $47.15 and a 12-month high of $80.47. The stock has a market capitalization of $144.72 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.47 and a beta of 0.56. The firm’s 50-day moving average is $71.79 and its two-hundred day moving average is $63.80. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.51 and a quick ratio of 0.43.

NextEra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.06 dividend on an annualized basis and a dividend yield of 2.92%. NextEra Energy’s dividend payout ratio is currently 56.13%.

Institutional Trading of NextEra Energy

Hedge funds have recently made changes to their positions in the company. Renasant Bank raised its holdings in NextEra Energy by 1.0% during the 1st quarter. Renasant Bank now owns 14,614 shares of the utilities provider’s stock worth $934,000 after buying an additional 142 shares during the period. Stonebridge Capital Advisors LLC increased its holdings in shares of NextEra Energy by 1.8% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 8,029 shares of the utilities provider’s stock valued at $513,000 after purchasing an additional 143 shares during the period. GSG Advisors LLC increased its holdings in shares of NextEra Energy by 2.6% in the 1st quarter. GSG Advisors LLC now owns 6,509 shares of the utilities provider’s stock valued at $407,000 after purchasing an additional 162 shares during the period. Greenfield Savings Bank increased its holdings in shares of NextEra Energy by 0.5% in the 4th quarter. Greenfield Savings Bank now owns 32,220 shares of the utilities provider’s stock valued at $1,957,000 after purchasing an additional 163 shares during the period. Finally, Prestige Wealth Management Group LLC increased its holdings in shares of NextEra Energy by 2.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 6,729 shares of the utilities provider’s stock valued at $430,000 after purchasing an additional 163 shares during the period. Hedge funds and other 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.