Based on the provided data and current valuation metrics, here's an analysis of whether NEE is overvalued:
Valuation Analysis: NEE's P/E ratio has increased significantly from 17.45 in Q1 2024 to 25.09 in Q3 2024, showing substantial valuation expansion.
EV/EBITDA Trend: The company's EV/EBITDA multiple has risen from 15.07 to 17.57 over the same period, indicating increasingly expensive valuation relative to operating performance.
Dividend Yield Decline: The dividend yield has decreased from 3% to 1.83% during this period, suggesting price appreciation has outpaced dividend growth.
Analyst Consensus: Recent analyst ratings show mixed views, with price targets ranging from $82-96, implying the current price around $70 may actually be undervalued based on consensus targets.
Market Position: The stock appears fairly valued to slightly overvalued based on current multiples versus historical averages, but strong renewable energy growth prospects and regulated utility operations provide fundamental support.