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, coal, and natural gas facilities. 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. As of December 31, 2021, the company had approximately 28,564 megawatts of net generating capacity; approximately 77,000 circuit miles of transmission and distribution lines; and 696 substations. It serves approximately 11 million people through approximately 5.7 million customer accounts in the east and lower west coasts of Florida. The company was formerly known as FPL Group, Inc. and changed its name to NextEra Energy, Inc. in 2010. The company was founded in 1925 and is headquartered in Juno Beach, Florida.
Wall Street Analysts Forecast Growth
Several research firms recently commented on NEE. Wells Fargo & Company upped their price objective on NextEra Energy from $107.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday. Guggenheim reiterated a "buy" rating and issued a $91.00 price objective on shares of NextEra Energy in a research note on Friday, July 22nd. Morgan Stanley boosted their target price on shares of NextEra Energy from $79.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, July 21st. Credit Suisse Group set a $76.00 target price on shares of NextEra Energy in a report on Monday, June 20th. Finally, Mizuho lowered their target price on shares of NextEra Energy from $88.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, April 25th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, NextEra Energy currently has an average rating of "Moderate Buy" and an average target price of $89.22.
NextEra Energy Trading Down 0.4 %
NextEra Energy stock opened at $89.43 on Friday. The stock has a market cap of $175.71 billion, a P/E ratio of 68.46, a PEG ratio of 3.33 and a beta of 0.47. NextEra Energy has a fifty-two week low of $67.22 and a fifty-two week high of $93.73. The firm's fifty day moving average price is $79.48 and its 200-day moving average price is $78.22. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.47 and a current ratio of 0.53.
NextEra Energy (NYSE:NEE - Get Rating) last released its quarterly earnings results on Friday, July 22nd. The utilities provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. The firm had revenue of $5.18 billion for the quarter, compared to analysts' expectations of $5.26 billion. NextEra Energy had a net margin of 14.75% and a return on equity of 11.97%. The business's quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities research analysts forecast that NextEra Energy will post 2.87 earnings per share for the current fiscal year.
NextEra Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Tuesday, August 30th will be paid a $0.425 dividend. The ex-dividend date is Monday, August 29th. This represents a $1.70 dividend on an annualized basis and a yield of 1.90%. NextEra Energy's dividend payout ratio is presently 129.77%.
Insider Activity at NextEra Energy
In other news, CEO John W. Ketchum bought 12,909 shares of NextEra Energy stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average price of $78.33 per share, with a total value of $1,011,161.97. Following the completion of the purchase, the chief executive officer now directly owns 132,894 shares in the company, valued at $10,409,587.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by insiders.