NextEra Energy Inc (NYSE: NEE) Stock: Does It Have More Upside?

In today’s recent session, 3.34 million shares of the NextEra Energy Inc (NYSE:NEE) have been traded, and its beta is 0.51. Most recently the company’s share price was $62.91, and it changed around -$1.0 or -1.56% from the last close, which brings the market valuation of the company to $129.12B. NEE at last check was trading at a discount to its 52-week high of $79.78, offering almost -26.82% off that amount. The share price’s 52-week low was $47.15, which indicates that the recent value has risen by an impressive 25.05% since then. We note from NextEra Energy Inc’s average daily trading volume that its 10-day average is 13.63 million shares, with the 3-month average coming to 11.99 million.

NextEra Energy Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.64. If we narrow it down even further, the data shows that 1 out of 22 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 3 recommended NEE as a Hold, whereas 13 deemed it a Buy, and 0 rated it as Underweight. NextEra Energy Inc is expected to report earnings per share of $0.73 for the current quarter.

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NextEra Energy Inc (NYSE:NEE) trade information

Instantly NEE has been showing red trend so far today with a performance of -1.56% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 3.57% year-to-date, but still up 1.83% over the last five days. On the other hand, NextEra Energy Inc (NYSE:NEE) is 13.99% up in the 30-day period. We can see from the shorts that 24.98 million shares have been sold at a short interest cover period of 1.84 day(s).

The consensus price target as assigned by Wall Street analysts is $85.15, which translates to bulls needing to increase their stock price by 26.12% from its current value. Analyst projections state that NEE is forecast to be at a low of $44 and a high of $110.

NextEra Energy Inc (NEE) estimates and forecasts

NextEra Energy Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 10.21 percent over the past six months and at a 8.52% annual growth rate that is well above the industry average of 6.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -13.10% in revenue this quarter, and will report an increase of 9.10% in the next quarter. The year-over-year growth rate is expected to be -1.50%, down from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $5.92 billion in revenue for the current quarter. 5 analysts expect NextEra Energy Inc to make $7.22 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $5.5 billion and $7.35 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.60%. Forecasts for the next quarter put sales growth at -1.70%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 0.74%. NextEra Energy Inc earnings are expected to increase by 7.29% in 2024, but the outlook is positive 7.87% per year for the next five years.

NEE Dividends

NextEra Energy Inc’s next quarterly earnings report is expected to be released around April 23 and April 29. The annual dividend yield of the stock is 3.05 percent and its annual dividend per share was 1.92. It is important to note, however, that the 3.05% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

NextEra Energy Inc (NYSE:NEE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.17% of NextEra Energy Inc shares, and 81.35% of them are in the hands of institutional investors. The stock currently has a share float of 81.49%. NextEra Energy Inc stock is held by 3,049 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 9.71% of the shares, which is about 196.47 million shares worth $14.58 billion.

Blackrock Inc., with 7.48% or 151.28 million shares worth $11.22 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 63.1 million shares worth $4.68 billion, making up 3.12% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 48.18 million shares worth around $3.57 billion, which represents about 2.38% of the total shares outstanding.