2024-01-26 07:00:00 ET
NextEra Energy (NYSE: NEE) has delivered supercharged growth over the years. In the decade from 2012 to 2022, the clean energy-focused utility grew its adjusted earnings per share at a 9.8% compound annual rate. It continued its magnificent growth rate last year, delivering 9.3% adjusted earnings growth in the midst of significant headwinds.
Despite that strong growth, NextEra Energy's stock has shed nearly a third of its value over the past year due to rising interest rates and growth concerns. That makes the utility look like a screaming buy these days, given the growth that still lies ahead.
NextEra Energy recently reported its fourth-quarter and full-year results for 2023. "NextEra Energy had an excellent year of execution in 2023, growing full-year adjusted earnings per share by more than 9% over 2022," stated CEO John Ketchum in the fourth-quarter earnings report. The CEO noted, "Due to strong operational and financial performance at both FPL (Florida Power & Light) and NextEra Energy Resources, we exceeded the high end of our adjusted earnings per share expectations range and continued our track record of providing long-term value for shareholders."
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Down Over 30%, This Magnificent Growth Stock Looks Like a Screaming Buy