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.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Barclays reduced their target price on NextEra Energy from $90.00 to $86.00 and set an "equal weight" rating for the company in a research note on Monday, July 18th. Morgan Stanley lifted their price objective on NextEra Energy from $79.00 to $83.00 and gave the company an "equal weight" rating in a report on Thursday, July 21st. KeyCorp dropped their price objective on NextEra Energy from $89.00 to $88.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. Mizuho dropped their price objective on NextEra Energy from $88.00 to $81.00 and set a "buy" rating for the company in a report on Monday, April 25th. Finally, Wells Fargo & Company lifted their price objective on NextEra Energy from $107.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $89.22.
NextEra Energy Price Performance
NEE Stock traded up $1.04 during midday trading on Friday, reaching $90.47. 5,262,780 shares of the stock were exchanged, compared to its average volume of 7,780,094. The stock has a market capitalization of $177.75 billion, a PE ratio of 69.06, a P/E/G ratio of 3.39 and a beta of 0.47. NextEra Energy has a 52 week low of $67.22 and a 52 week high of $93.73. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.53 and a quick ratio of 0.47. The company has a fifty day moving average price of $79.93 and a 200 day moving average price of $78.42.
NextEra Energy (NYSE:NEE - Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The utilities provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.26 billion. NextEra Energy had a return on equity of 11.97% and a net margin of 14.75%. NextEra Energy's quarterly revenue was up 32.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, analysts expect that NextEra Energy will post 2.87 EPS for the current fiscal year.
NextEra Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Tuesday, August 30th will be given a $0.425 dividend. The ex-dividend date is Monday, August 29th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.88%. NextEra Energy's dividend payout ratio (DPR) is presently 129.77%.
Insider Buying and Selling at NextEra Energy
In related news, CEO John W. Ketchum purchased 12,909 shares of NextEra Energy stock in a transaction on Friday, July 1st. The shares were purchased at an average price of $78.33 per share, for a total transaction of $1,011,161.97. Following the transaction, the chief executive officer now owns 132,894 shares of the company's stock, valued at approximately $10,409,587.02. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.38% of the company's stock.