NextEra Energy (NYSE:NEE) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

NextEra Energy (NYSE:NEE) announced its earnings results on Wednesday. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05, Briefing.com reports. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.11 billion. NextEra Energy had a net margin of 24.45% and a return on equity of 11.75%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 earnings per share.

NextEra Energy Price Performance

NextEra Energy stock traded down $0.95 during mid-day trading on Thursday, reaching $84.01. 756,988 shares of the company’s stock traded hands, compared to its average volume of 10,710,223. The company has a market cap of $172.60 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 2.92 and a beta of 0.56. The stock has a 50 day moving average of $82.19 and a two-hundred day moving average of $75.96. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.15. NextEra Energy has a 12-month low of $53.81 and a 12-month high of $86.10.

NextEra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, November 22nd. NextEra Energy’s payout ratio is 56.13%.

Insider Activity at NextEra Energy

In related news, EVP Nicole J. Daggs sold 658 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $76.97, for a total transaction of $50,646.26. Following the sale, the executive vice president now owns 100 shares of the company’s stock, valued at $7,697. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NEE shares. Barclays upped their price target on shares of NextEra Energy from $76.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. Jefferies Financial Group started coverage on shares of NextEra Energy in a research report on Thursday, September 19th. They issued a “hold” rating and a $87.00 price target for the company. Scotiabank upped their price target on shares of NextEra Energy from $73.00 to $92.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of NextEra Energy from $83.00 to $91.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada downgraded shares of NextEra Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $85.46.

NextEra Energy Company Profile

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.