NextEra Energy (NEE) closed the most recent trading day at $78.27, moving +1.44% from the previous trading session. This move outpaced the S&P 500’s daily loss of 0.24%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq lost 0.04%.

– Zacks

Coming into today, shares of the parent company of Florida Power & Light Co. Had gained 6.43% in the past month. In that same time, the Utilities sector gained 0.47%, while the S&P 500 gained 0.73%.

Wall Street will be looking for positivity from NextEra Energy as it approaches its next earnings report date. In that report, analysts expect NextEra Energy to post earnings of $0.66 per share. This would mark a year-over-year decline of 1.49%.

NEE’s full-year Zacks Consensus Estimates are calling for earnings of $2.77 per share and revenue of $22.75 billion. These results would represent year-over-year changes of +8.63% and +33.29%, respectively.

Investors might also notice recent changes to analyst estimates for NextEra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 remained stagnant. NextEra Energy is currently a Zacks Rank #3 (Hold).

Investors should also note NextEra Energy’s current valuation metrics, including its Forward P/E ratio of 27.82. This represents a premium compared to its industry’s average Forward P/E of 18.05.

Investors should also note that NEE has a PEG ratio of 3.15 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. The Utility – Electric Power industry currently had an average PEG ratio of 3.27 as of yesterday’s close.

The Utility – Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 209, which puts it in the bottom 18% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Just Released: Zacks Top 10 Stocks for 2022

In addition to the investment ideas discussed above, would you like to know about our 10 top buy-and-hold tickers for the entirety of 2022?

Last year’s 2021 Zacks Top 10 Stocks portfolio returned gains as high as +147.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys

Access Zacks Top 10 Stocks for 2022 today >>

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 Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research