NEE - WEC Energy: Still An Attractive Utility Play While NextEra Energy Surges

2024-06-03 09:55:10 ET

Summary

• The market saw a quick rebound from April's relatively brief and shallow pullback.
• Utilities have seen significant gains over the last month, becoming the best-performing sector for 2024.
• WEC Energy Group and NextEra Energy are attractive utility picks for income investors, with steady earnings growth and fueling dividend growth.
• While both are strong utility plays, WEC looks like the more attractive in terms of valuations at today's prices.

Written by Nick Ackerman.

After a brief pullback in April, the market raced back higher and pushed into new high territory for May. This has helped the market, as measured by the S&P 500 Index, which is up double-digits this year, and the Nasdaq Composite Index, which is also up double-digits. Those two indexes have become heavy in technology stocks, more specifically the magnificent 7 names, which continue to drive the markets....

For further details see: