#2 - NextEra Energy (NYSE:NEE)
As the economy begins to reopen, it’s becoming clear that traditional fossil fuels aren’t going extinct anytime soon. In fact, the growth in oil stocks is proof that a “both/and” approach will be necessary. That’s the kind of optionality you’re investing in with NextEra Energy (NYSE: NEE).
NextEra is first and foremost a traditional utility company. It owns power plants fueled by natural gas, nuclear energy, and oil. And when it comes to utility companies, location matters. In the case of NextEra, it supplies power to 50% of the homes in Florida. That’s one reason it’s the largest electric utility in the United States.
However, NextEra has a portfolio of wind turbines and solar panels that make it the world’s largest generator of renewable energy.
Over the last five years, NEE stock has generated an impressive 161% gain. The stock stumbled a bit after a four-for-one stock split in October 2020. In fact, as late as June, the stock was negative for the year, but it is surging in the past 60 days and is now up 16% for the year.
About NextEra Energy
NextEra Energy, Inc, through its subsidiaries, generates, transmits, distributes, and sells electric power to retail and wholesale customers in North America. The company generates electricity through wind, solar, nuclear,natural gas, and other clean energy. It also develops, constructs, and operates long-term contracted assets that consists of clean energy solutions, such as renewable generation facilities, battery storage projects, and electric transmission facilities; sells energy commodities; and owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets.
Read More - Current Price
- $66.56
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $71.21 (7.0% Upside)
