Here's Why NextEra Energy (NEE) Fell More Than Broader Market

In the latest trading session, NextEra Energy (NEE) closed at $70.70, marking a -1.96% move from the previous day. The stock's change was less than the S&P 500's daily loss of 1.07%. At the same time, the Dow lost 0.62%, and the tech-heavy Nasdaq lost 1.71%.The parent company of Florida Power & Light Co.'s stock has climbed by 5.95% in the past month, exceeding the Utilities sector's gain of 2.4% and the S&P 500's loss of 7.03%.The upcoming earnings release of NextEra Energy will be of great interest to investors. In that report, analysts expect NextEra Energy to post earnings of $0.99 per share. This would mark year-over-year growth of 8.79%. Simultaneously, our latest consensus estimate expects the revenue to be $7.04 billion, showing a 22.89% escalation compared to the year-ago quarter.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.67 per share and a revenue of $29.75 billion, representing changes of +7% and +20.21%, respectively, from the prior year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.03% lower. NextEra Energy is currently a Zacks Rank #3 (Hold).With respect to valuation, NextEra Energy is currently being traded at a Forward P/E ratio of 19.63. This valuation marks a premium compared to its industry's average Forward P/E of 18.32.Meanwhile, NEE's PEG ratio is currently 2.52. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Utility - Electric Power industry was having an average PEG ratio of 2.65.The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NextEra Energy, Inc. (NEE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks