Why NextEra Energy Stock Is Down

NextEra Energy, Inc. NEE shares are trading lower Tuesday. The company reaffirmed its 2024-2026 EPS guidance and issued 2027 targets ahead of its Investor Day event.

The Details:

According to a company filing, members of NextEra's senior management team plan to reaffirm its adjusted earnings per share expectations for 2024, 2025 and 2026, and introduce its adjusted earnings per share expectations for 2027. 

NextEra Energy continues to expect adjusted earnings per share for 2024, 2025 and 2026 to be in the range of $3.23 to $3.43 per share, $3.45 to $3.70 per share and $3.63 to $4.00 per share, respectively. The company now expects 2027 adjusted earnings per share to be in the range of $3.85 to $4.32.

According to data from Benzinga Pro, NextEra Energy shares are trading above the stock’s 50-day moving average of $70.52 and near its 52-week high of $80.47.

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Is NEE A Good Stock To Buy?

When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.

NextEra Energy has reported average annual revenue growth of 10.92% over the past 5 years.

It's also important to pay attention to valuation when deciding whether to buy a stock. NextEra Energy has a forward P/E ratio of 22.62. This means investors are paying $22.62 for each dollar of expected earnings in the future. The average forward P/E ratio of NextEra Energy's peers is 15.1.

Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.

NEE Price Action: According to Benzinga Pro, NextEra Energy shares are down 5.5% at $72.76 at the time of publication Tuesday.

Image: Courtesy of NextEra Energy, Inc.