NextEra Energy (NEE)

Jul 12, 2022Trade Ideas

Keep an eye on NextEra Energy (NEE).

For one, the company provides electricity. Two, since demand for electricity doesn’t a lot from one year to the next, the company is insulated. Three, the company carries a yield of 2.11%.

Even better, according to Tip Ranks, “NextEra reported growth in its cash holdings, which were up 48% y/y and reached $168 million, and was able to maintain its reliable – and steadily rising – dividend payment. The company has bumped that payment up three times over the past three years, and the current common share payment stands at 73.3 cents.”

Plus, President and CEO John Ketchum recently bought $1.01 million worth of stock, and Wells Fargo rates NEE shares with an overweight rating, with a $107 price target.

“The outlook for renewables has never been brighter and NEE’s competitive position never stronger… We are attracted to NEE’s strong EPS growth outlook, which is being driven by both regulated infrastructure investment at the FL utilities and non-regulated renewables development throughout the U.S.,” says Wells Fargo.

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