#7 - NextEra Energy (NYSE:NEE)
After being one of the stock market winners in 2022, the energy sector is still one of the more beaten-down sectors in 2023. That could be changing as the supply-demand fundamentals for oil prices are tilting in favor of higher prices.
If that’s the case, NextEra Energy Inc. (NYSE: NEE) looks to be a compelling choice as a bounce-back stock. NEE stock is down 12% in 2023 which is almost double the stock’s 6.8% loss over the last 12 months.
But the bullish case for NEE stock remains as clear as ever. To begin with, the company is the largest electric utility holding company in the United States. And it services nearly half of the state of Florida. That ensures long-term revenue and earnings consistency.
But the larger growth opportunity comes from NextEra’s focus on renewable energy. And this includes projects that are generating green energy today.
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
- $71.67
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $87.15 (21.6% Upside)
If there's one thing that should be clear when it comes to buying undervalued stocks, it's that you have to be in the game. Many investors make the mistake of sitting on the sidelines waiting for the “right" moment to invest in a particular stock or stocks.
That strategy can help you sleep at night. But it also may cause you to miss out on some market-beating gains. The market doesn't announce when it's going to flip. And if you're not positioned in a particular stock when it starts to run, you'll likely miss out on the largest gains.
However, for a variety of reasons, you may not have room in your portfolio for a particular stock right now. That's why having one or more watchlists is critical. MarketBeat has several tools that let you keep track of multiple watchlists. And these tools include getting real-time updates on news that affects these stocks.
It's a great way for you to keep informed on these stocks. And if you have a particular price target in mind, this strategy can help you get in at the right time.
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