WEC - Forget NextEra Energy: Buy This Magnificent High-Yield Stock Instead.
2024-07-20 04:12:00 ET
Investing is all about trade-offs. For example, what's more important to you: Dividend yield or dividend growth? Both are valuable, but high-yield stocks often have low dividend growth rates. And companies with rapidly growing dividends often have low yields. If you're looking at NextEra Energy (NYSE: NEE) as a way to get a good mix of yield and growth, you'll want to consider smaller utility peer WEC Energy (NYSE: WEC) instead. Here's why.
NextEra Energy is a well-run utility with a unique business. It owns one of the largest regulated utilities in the United States, using that as a platform to build one of the largest solar and wind power companies in the world. There's really no other utility that has a similar business. And it's how NextEra Energy has managed to increase its dividend at a compound annual rate of 10% a year over the past decade.
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Forget NextEra Energy: Buy This Magnificent High-Yield Stock Instead.