NextEra Energy (NYSE:NEE) Releases Earnings Results, Beats Estimates By $0.01 EPS

NextEra Energy (NYSE:NEE) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01, Zacks reports. NextEra Energy had a net margin of 24.72% and a return on equity of 12.42%. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis.

NextEra Energy Price Performance

Shares of NEE opened at $86.07 on Tuesday. The firm has a market cap of $179.26 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.63 and a beta of 0.74. NextEra Energy has a 52 week low of $61.72 and a 52 week high of $87.53. The stock has a 50 day moving average of $82.24 and a 200-day moving average of $78.72. The company has a current ratio of 0.55, a quick ratio of 0.45 and a debt-to-equity ratio of 1.30.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NEE shares. Argus set a $90.00 price objective on NextEra Energy in a report on Wednesday, October 29th. Evercore ISI reaffirmed an “outperform” rating and set a $93.00 price objective on shares of NextEra Energy in a research note on Tuesday, October 28th. Barclays boosted their target price on shares of NextEra Energy from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NextEra Energy in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price target on shares of NextEra Energy from $97.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, NextEra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $91.94.

Insider Activity

In other NextEra Energy news, EVP Ronald R. Reagan sold 10,826 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $85.00, for a total transaction of $920,210.00. Following the completion of the transaction, the executive vice president directly owned 15,643 shares of the company’s stock, valued at $1,329,655. The trade was a 40.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Armando Pimentel, Jr. sold 145,140 shares of NextEra Energy stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $83.91, for a total value of $12,178,697.40. Following the sale, the chief executive officer directly owned 162,693 shares in the company, valued at approximately $13,651,569.63. This trade represents a 47.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.18% of the company’s stock.

Institutional Trading of NextEra Energy

Several hedge funds and other institutional investors have recently modified their holdings of NEE. Amundi lifted its position in NextEra Energy by 16.7% in the 3rd quarter. Amundi now owns 12,461,783 shares of the utilities provider’s stock worth $1,012,129,000 after buying an additional 1,780,881 shares in the last quarter. BROOKFIELD Corp ON acquired a new stake in NextEra Energy in the 2nd quarter worth approximately $57,607,000. Credit Agricole S A bought a new stake in NextEra Energy during the third quarter worth approximately $53,295,000. Man Group plc grew its holdings in NextEra Energy by 71.4% during the third quarter. Man Group plc now owns 1,231,345 shares of the utilities provider’s stock valued at $92,954,000 after purchasing an additional 512,940 shares during the last quarter. Finally, Caisse de depot et placement du Quebec lifted its stake in shares of NextEra Energy by 22.6% in the third quarter. Caisse de depot et placement du Quebec now owns 2,259,746 shares of the utilities provider’s stock worth $170,588,000 after buying an additional 417,307 shares during the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.

About NextEra Energy

NextEra Energy, Inc (NYSE: NEE), headquartered in Juno Beach, Florida, is a leading clean energy company with both regulated utility operations and competitive renewable generation businesses. The company’s principal operating subsidiaries include Florida Power & Light Company (FPL), a regulated electric utility serving customers in Florida, and NextEra Energy Resources, which develops, constructs, owns and operates a large portfolio of wind, solar and energy storage projects. Together these businesses provide electricity supply, transmission and distribution services as well as utility-scale renewable generation and related services.

NextEra’s activities cover the full lifecycle of power assets, from project development and construction to operation, maintenance and asset optimization.