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NextEra Energy (NEE) Increases Despite Market Slip: Here's What You Need to Know

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NextEra Energy (NEE - Free Report) closed the latest trading day at $64.01, indicating a +0.34% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.52%.

The the stock of parent company of Florida Power & Light Co. Has risen by 2.56% in the past month, leading the Utilities sector's loss of 7.82% and the S&P 500's loss of 1.66%.

The investment community will be paying close attention to the earnings performance of NextEra Energy in its upcoming release. The company is slated to reveal its earnings on April 23, 2024. The company's upcoming EPS is projected at $0.77, signifying an 8.33% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $6.47 billion, down 3.67% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.40 per share and revenue of $28.46 billion, indicating changes of +7.26% and +1.21%, respectively, compared to the previous year.

It's also important for investors to be aware of any recent modifications to analyst estimates for NextEra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.21% lower within the past month. NextEra Energy is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, NextEra Energy is holding a Forward P/E ratio of 18.76. This expresses a premium compared to the average Forward P/E of 14.8 of its industry.

Investors should also note that NEE has a PEG ratio of 2.29 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Utility - Electric Power was holding an average PEG ratio of 2.57 at yesterday's closing price.

The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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