NextEra Energy (NYSE:NEE) Releases Earnings Results, Beats Expectations By $0.04 EPS

Key Points

• NextEra Energy reported quarterly EPS of $1.24, beating analysts’ consensus estimate of $1.20 by $0.04. Revenue totaled $8.09 billion, below expectations of $8.47 billion.
• The stock rose 0.9% to open at $78.88, while the company maintained a quarterly dividend of $0.6232, equivalent to an annualized $2.49 payout and a 3.2% yield.
• Analysts hold a consensus “Moderate Buy” rating, with an average price target of $98.05; targets in recent reports ranged from $84 to $105.

NextEra Energy (NYSE:NEE - Get Free Report) posted its earnings results on Wednesday. The utilities provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.04, FiscalAI reports. The company had revenue of $8.09 billion during the quarter, compared to analysts' expectations of $8.47 billion. NextEra Energy had a net margin of 32.40% and a return on equity of 12.28%.

NextEra Energy Stock Up 0.9%

NYSE NEE opened at $78.88 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. NextEra Energy has a 1-year low of $74.41 and a 1-year high of $98.75. The company has a 50 day moving average of $80.86 and a 200-day moving average of $86.38. The company has a market cap of $164.54 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 2.41 and a beta of 0.64.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, August 28th were given a $0.6232 dividend. This represents a $2.49 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, August 28th. NextEra Energy's payout ratio is presently 55.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group restated a "hold" rating on shares of NextEra Energy in a research report on Thursday, October 8th. BMO Capital Markets set a $88.00 target price on NextEra Energy and gave the company an "outperform" rating in a research report on Tuesday. Barclays set a $84.00 target price on NextEra Energy and gave the stock an "equal weight" rating in a research note on Monday. Piper Sandler set a $88.00 target price on NextEra Energy in a research note on Tuesday. Finally, BTIG Research reissued a "buy" rating and set a $105.00 price target on shares of NextEra Energy in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, NextEra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $98.05.

NextEra Energy Company Profile

NextEra Energy, Inc is an energy infrastructure company headquartered in Juno Beach, Florida. Through its businesses, the company generates, transmits, distributes and sells electricity, with a focus on regulated utility operations and clean energy development.

Florida Power & Light Company, NextEra Energy's principal regulated utility, serves customers across much of Florida. FPL operates electric generation, transmission and distribution infrastructure and provides retail electricity service to residential, commercial and industrial customers.

NextEra Energy Resources develops, owns and operates renewable energy and energy storage projects, including wind and solar facilities.

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