#2 - NextEra Energy (NYSE:NEE)
Another big name in renewable energy is NextEra Energy (NYSE:NEE). NextEra is not a pure-play in renewable energy. It is one of the nation’s largest electric utilities. However, it’s also a global leader in both wind and solar. The company has a healthy stream of predictable and stable revenue from rates and fee-based contracts.
In the company’s most recent earnings report, NextEra announced a record number of energy generation projects. And the company’s 15,000-megawatt backlog is now bigger than its existing renewables portfolio.
NextEra is also an exceptional choice for investors who want a strong balance sheet. NextEra posted sequential earnings per share (EPS) gain of over 11% in its October earnings report. This continues a pattern that has seen 2020 EPS grow by over 10% on a year-over-year basis.
After being flat for the first half of the year, NEE stock is up 23%. The company pays out one of the more reliable dividends in the industry. In fact, the company just increased its dividend in October and has a dividend yield of 1.9%.
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
- $76.23
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $86.54 (13.5% Upside)
