#6 - NextEra (NYSE:NEE)
NextEra (NYSE:NEE) is at the forefront of renewable energy and traditional energy markets. Renewable energy will be one of the leading stories for the next decade. But one of the urgent challenges is revamping the nation’s existing electric grid to store and distribute all the power coming from sources such as solar and wind.
NextEra is the leading competitive transmission company in North America with over 8,500 miles of assets in the United States and Canada. And the company continues to expand. Earlier this year, it completed an agreement to pay $660 million to acquire GridLiance. The company has been rebuffed in recent attempts at taking over Duke Energy (NYSE:DUK) and acquiring Evergy (NYSE:EVRG). However, NextEra is taking several bites at the apple.
The company is in the midst of selling assets to its subsidiary NextEra Energy Partners (NYSE:NEP), among others. The plan will be to raise $13 billion in cash to finance a 15 GW development project larger than the existing renewable product pipeline.
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
- $69.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $87.15 (25.9% Upside)
