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NextEra Energy is a Solid Play on Rising Energy Prices

3 4 23
20.10.2021

One of the more intriguing early earnings reports will come from NextEra Energy (NYSE: NEE). NEE stock is up 10% in 2021 which is consistent with other large utility companies such as Duke Energy (NYSE: DUK) which is up 12%. And NextEra is outperforming the Utilities Select Sector SPDR Fund (NYSEARCA: XLU) that’s up 7% in 2021.

As its name suggests, NextEra is the world’s largest investor-owned generator of wind and solar power. However, the company is also one of the nation’s largest traditional utilities as well. In fact, NextEra owns Florida Power & Light Company the largest rate-regulated utility in the country. It also owns Gulf Power Company which services Florida. The company’s long-term plan is to combine its portfolio of natural gas, wind energy, and solar projects to drive revenue and earnings growth.

This feeds into the bullish argument for NEE stock that the company shouldn’t be thought of strictly as a “boring” utility company.........

© Entrepreneur


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