The most recent trading session ended with NextEra Energy (NEE) standing at $70.36, reflecting a -1.24% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 1.11%. Elsewhere, the Dow lost 0.42%, while the tech-heavy Nasdaq lost 1.89%.

The parent company of Florida Power & Light Co.'s stock has dropped by 4.63% in the past month, exceeding the Utilities sector's loss of 6.81% and lagging the S&P 500's loss of 1.7%.

The investment community will be paying close attention to the earnings performance of NextEra Energy in its upcoming release. On that day, NextEra Energy is projected to report earnings of $0.51 per share, which would represent a year-over-year decline of 1.92%. At the same time, our most recent consensus estimate is projecting a revenue of $6.52 billion, reflecting a 5.26% fall from the equivalent quarter last year.

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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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 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% higher. NextEra Energy is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, NextEra Energy is currently trading at a Forward P/E ratio of 19.42. For comparison, its industry has an average Forward P/E of 15.86, which means NextEra Energy is trading at a premium to the group.

It's also important to note that NEE currently trades at a PEG ratio of 2.39. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Utility - Electric Power industry currently had an average PEG ratio of 2.49 as of yesterday's close.

The Utility - Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 140, putting it in the bottom 45% of all 250+ industries.

The Zacks Industry Rank is ordered 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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