NextEra Energy (NEE) Stock Dips While Market Gains: Key Facts

In the latest market close, NextEra Energy (NEE) reached $73.98, with a -0.22% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 0.82%. On the other hand, the Dow registered a loss of 0.22%, and the technology-centric Nasdaq increased by 1.77%.The parent company of Florida Power & Light Co.'s stock has dropped by 0.16% in the past month, exceeding the Utilities sector's loss of 1.53% and lagging the S&P 500's gain of 0.8%.Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.52, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $6.69 billion, down 2.78% from the prior-year quarter.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.41 per share and revenue of $26.66 billion, indicating changes of +7.57% and -5.16%, respectively, compared to the previous year.Investors should also pay attention to any latest changes in analyst estimates for NextEra Energy. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.07% lower. Currently, NextEra Energy is carrying a Zacks Rank of #3 (Hold).In the context of valuation, NextEra Energy is at present trading with a Forward P/E ratio of 21.77. This expresses a premium compared to the average Forward P/E of 16.94 of its industry.We can also see that NEE currently has a PEG ratio of 2.68. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Utility - Electric Power stocks are, on average, holding a PEG ratio of 2.67 based on yesterday's closing prices.The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 134, finds itself in the bottom 47% echelons of all 250+ industries.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks