In the latest market close, NextEra Energy (NEE) reached $70.07, with a -1.14% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 1.77%. Meanwhile, the Dow gained 1.42%, and the Nasdaq, a tech-heavy index, added 2.28%.

The the stock of parent company of Florida Power & Light Co. Has fallen by 0.98% in the past month, lagging the Utilities sector's loss of 0.53% and overreaching the S&P 500's loss of 5.73%.

The investment community will be closely monitoring the performance of NextEra Energy in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.99, reflecting an 8.79% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.04 billion, up 22.89% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.67 per share and a revenue of $29.75 billion, representing changes of +7% and +20.21%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for NextEra Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. 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 19.29. For comparison, its industry has an average Forward P/E of 17.92, 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 2.48. 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. The Utility - Electric Power was holding an average PEG ratio of 2.66 at yesterday's closing price.

The Utility - Electric Power industry is part of the Utilities sector. This industry, currently bearing a Zacks Industry Rank of 59, finds itself in the top 24% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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