ETRN - NextEra Energy's Good Generation Fundamentals
2024-05-05 08:32:39 ET
Summary
- NextEra Energy is a $144 billion company comprising a significant utility-FPL-and a renewables project division, NEER. The company's dividend is 2.9% currently.
- NextEra Energy took significant write-offs on its Mountain Valley Pipeline interest in 2022, but now--pending FERC approval--MVP is expected to begin operations by the end of May 2024.
- NextEra Energy owns and/or operates a total of 6.5 gigawatts of nuclear capacity, 8.8% of total FPL and NEER capacity.
I am keeping low-beta (0.51) NextEra Energy ( NEE ) at "buy" as with my previous report . NextEra has two primary parts: its Florida utility business ((FPL)) which serves 5.9 million customer accounts (about 12 million people) and its national renewables energy project business, NextEra Energy Resources (NEER).
This rating applies only for NextEra Energy and not for NextEra Energy Partners ( NEP ). It also applies only for investors seeking capital appreciation; dividend hunters will prefer stocks with higher dividend rates or even short-term US Treasuries (two-year rate at 4.87%) or other interest-bearing instruments....
NextEra Energy's Good Generation Fundamentals