NextEra Energy Inc (NYSE:NEE) announced a quarterly dividend on Friday, October 12th, RTT News reports. Shareholders of record on Friday, November 30th will be given a dividend of 1.11 per share by the utilities provider on Monday, December 17th. This represents a $4.44 annualized dividend and a dividend yield of 2.62%.
NextEra Energy has raised its dividend by an average of 21.8% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. NextEra Energy has a payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect NextEra Energy to earn $8.34 per share next year, which means the company should continue to be able to cover its $4.44 annual dividend with an expected future payout ratio of 53.2%.
NEE opened at $169.36 on Friday. NextEra Energy has a 1 year low of $145.10 and a 1 year high of $175.66. The stock has a market capitalization of $79.04 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.58 and a beta of 0.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 0.58.
NextEra Energy (NYSE:NEE) last released its earnings results on Wednesday, July 25th. The utilities provider reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. The business had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $4.51 billion. NextEra Energy had a return on equity of 10.49% and a net margin of 49.10%. NextEra Energy’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 earnings per share. On average, analysts expect that NextEra Energy will post 7.76 EPS for the current fiscal year.
A number of analysts recently issued reports on the company. Wells Fargo & Co lifted their target price on NextEra Energy from $180.00 to $191.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley lifted their target price on NextEra Energy from $181.00 to $186.00 and gave the company a “buy” rating in a research report on Tuesday, September 11th. Mizuho assumed coverage on NextEra Energy in a research report on Monday, August 13th. They issued a “buy” rating and a $184.00 target price on the stock. Zacks Investment Research raised NextEra Energy from a “hold” rating to a “buy” rating and set a $191.00 target price on the stock in a research report on Wednesday, August 8th. Finally, KeyCorp lifted their target price on NextEra Energy from $168.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. NextEra Energy presently has an average rating of “Buy” and a consensus price target of $170.64.
In related news, Treasurer Paul I. Cutler sold 11,016 shares of NextEra Energy stock in a transaction dated Wednesday, October 10th. The stock was sold at an average price of $175.08, for a total transaction of $1,928,681.28. Following the completion of the transaction, the treasurer now owns 102,291 shares in the company, valued at $17,909,108.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Paul I. Cutler sold 7,639 shares of NextEra Energy stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $173.30, for a total value of $1,323,838.70. Following the transaction, the treasurer now owns 98,914 shares of the company’s stock, valued at approximately $17,141,796.20. The disclosure for this sale can be found here. Insiders have sold 74,024 shares of company stock valued at $12,742,375 in the last quarter. 0.55% of the stock is currently owned by corporate insiders.
About NextEra Energy
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, and natural gas-fired facilities. It also provides risk management services related to power and gas consumption.
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