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NEE Energy (NEE) Scales 52-Week High on Steady Performance

Zacks

A public utility holding company NextEra Energy NEE hit a new 52-week high of $136.81 during yesterday’s trading session before closing a tad lower at $135.90. The stock has delivered a one-year return of about 15.2% compared with Zacks categorized Utility – Electric Power industry’s gain of 3.3%.

In the past 52 weeks, NextEra Energy’s share price has ranged from a low of $110.49 to a high of $136.81. Average volume of shares traded in the last three months is approximately 1.8 million.

Why is NextEra Energy Moving Up?

NextEra Energy’s shares have been on the rise following strong first-quarter 2017 results on Apr 21. The company posted earnings of $1.75 per share, beating the Zacks Consensus Estimate of $1.56 by 12.2%. Reported earnings were also up 10.1% year over year.

The company has been a consistent performer having delivered positive earnings surprises in three out of the last four quarters with an average surprise of 4.28%. The long-term earnings growth of the company is presently pegged at 7.03%.

NextEra Energy’s subsidiary Florida Power & Light Company (FPL) continues to increase the number of customer accounts, having added 65,000 more customers in the first quarter over the comparable year-ago period figure. The company stands to gain from the positive economic fundamentals, which will help it to achieve the targeted compound annual earnings growth rate of 6–8% through 2020 from a 2016 base.

NextEra Energy through its subsidiaries has brought online nearly 2,500 MW of renewable power in 2016 and expects to bring nearly 2,800–5,400 MW of new renewable projects online over the 2017–2018 time frame. All these completed and upcoming renewable projects are doing to drive the performance of the company.

The company reiterated adjusted earnings guidance in the range of $6.35–$6.85 for 2017 and $6.80–$7.30 for 2018. The company anticipates earnings to grow at a compound annual rate of 6–8% per year through 2020, off a 2016 base.

NextEra Energy currently carries a Zacks Rank #3 (Hold).

NextEra Energy, Inc. Price and Consensus


Stocks to Consider

Investors can consider better-ranked stocks from the same industry carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NiSource, Inc NI posted first-quarter 2017 earnings from continuing operations of 65 cents per share, in line with the Zacks Consensus Estimate. The company’s 2017 estimates increased by 1 cent to $1.18 per share in the last 90 days.

CenterPoint Energy, Inc. CNP posted first-quarter 2017 earnings from operations of 37 cents per share, beating the Zacks Consensus Estimate of 36 cents per share by 2.8%. The company’s 2017 estimates increased by 2 cents to $1.32 per share in the last 90 days.

Algonquin Power & Utilities Corp. AQN posted first-quarter 2017 earnings from operations of 19 cents per share, beating the Zacks Consensus Estimate of 17 cents per share by 11.8%. The company’s 2017 estimates increased by 1 cent to 51 cents in the last 90 days.

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