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 Upgrades and Downgrades
NEE has been the subject of a number of research reports. Barclays reduced their target price on shares of NextEra Energy from $90.00 to $86.00 and set an "equal weight" rating for the company in a report on Monday, July 18th. Evercore ISI reaffirmed a "hold" rating and set a $90.00 target price on shares of NextEra Energy in a report on Friday, April 22nd. Credit Suisse Group set a $76.00 target price on shares of NextEra Energy in a report on Monday, June 20th. TheStreet raised shares of NextEra Energy from a "c+" rating to a "b" rating in a report on Friday, July 22nd. Finally, Morgan Stanley increased their price objective on shares of NextEra Energy from $79.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 21st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, NextEra Energy currently has an average rating of "Moderate Buy" and an average target price of $89.22.
NextEra Energy Price Performance
Shares of NYSE:NEE traded up $1.04 during midday trading on Friday, reaching $90.47. 5,190,005 shares of the company were exchanged, compared to its average volume of 9,970,336. The company has a current ratio of 0.53, a quick ratio of 0.47 and a debt-to-equity ratio of 1.20. The business's fifty day moving average is $79.70 and its two-hundred day moving average is $78.27. NextEra Energy has a one year low of $67.22 and a one year high of $93.73. The stock has a market cap of $177.75 billion, a PE ratio of 69.06, a price-to-earnings-growth ratio of 3.36 and a beta of 0.47.
NextEra Energy (NYSE:NEE - Get Rating) last issued its earnings results 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. NextEra Energy had a net margin of 14.75% and a return on equity of 11.97%. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. NextEra Energy's revenue for the quarter was up 32.0% on a year-over-year basis. As a group, analysts predict that NextEra Energy will post 2.87 earnings per share for the current year.
NextEra Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Tuesday, August 30th will be given a dividend of $0.425 per share. 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 is 129.77%.
Insider Buying and Selling
In related news, CEO John W. Ketchum bought 12,909 shares of the company's stock in a transaction that occurred on Friday, July 1st. The stock was purchased at an average price of $78.33 per share, for a total transaction of $1,011,161.97. Following the completion of the transaction, the chief executive officer now owns 132,894 shares in the company, valued at $10,409,587.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.