2024-03-21 05:30:00 ET
Utilities are generally thought of as boring investments, which is true in many cases. But NextEra Energy (NYSE: NEE) bucks the trend in a good way. The price of the stock is up 3,750% since 1980. That's a long time for sure, but long-term investors have benefited mightily from owning this millionaire-making utility.
The best part of the story, however, is that the stock is currently in a funk, and offering investors a historically attractive chance to buy. Here's what you need to know.
There are two parts to NextEra Energy's utility business. The first, which makes up around 70% of the company, is a fairly boring regulated utility. This is similar to what most utilities own, but there's a growth twist: NextEra Energy owns Florida Power & Light, the largest utility in the state of Florida. The Sunshine State has benefited from net population growth for years. More residents means more customers, and that leads to top-line growth for utilities.
For further details see:
1 Utility Stock That Has Created Millionaires, and Should Continue to Make More