NEE - NextEra Energy, Inc.

NYSE - NYSE Delayed price. Currency in USD
231.42
+1.55 (+0.67%)
At close: 4:02PM EST
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Previous close229.87
Open230.42
Bid231.28 x 1100
Ask231.75 x 800
Day's range228.35 - 231.54
52-week range164.78 - 239.89
Volume1,845,622
Avg. volume2,063,704
Market cap113.113B
Beta (3Y monthly)0.17
PE ratio (TTM)34.59
EPS (TTM)6.69
Earnings date23 Jan 2020 - 27 Jan 2020
Forward dividend & yield5.00 (2.18%)
Ex-dividend date2019-11-27
1y target est240.70
  • The World’s Only $100 Billion Utility Owes Its Rise To Wind Power
    Bloomberg

    The World’s Only $100 Billion Utility Owes Its Rise To Wind Power

    (Bloomberg) -- Two decades ago, when coal ruled U.S. power generation, a Florida utility plowed some of its extra cash into a wind farm atop a desolate Oregon plateau.It was the start of an unimaginably successful bet.This year, that company -- now named NextEra Energy Inc. -- became the world’s first utility with a market capitalization of more than $100 billion, thanks largely to its clean-power business. It’s almost twice as valuable as the oil major ConocoPhillips and has developed enough wind and solar farms across the U.S. and Canada to power the entire nation of Greece. Shares have doubled in four years, outperforming virtually every other stock in the industry.“They made a bunch of strategic moves early and aggressively that have paid off very well for them,” said Andrew Weisel, an analyst at Scotia Howard Weil.Not that NextEra started down the clean-energy road with a master plan. The move into renewables happened pretty much by accident after the company began lending money to wind-farm developers. Some of them ran into financial troubles. NextEra forgave debts in exchange for majority stakes in the farms.As it would turn out, the wind farms weren’t duds.“Lo and behold, we did some projects that were quite profitable,”said Lewis Hay III, the company’s chief executive officer from 2001 to 2012.So Hay pulled together a renewable energy team of his own. One of his early moves was to recruit two of his former co-workers from a consulting firm: One was Moray Dewhurst, who eventually served as NextEra’s chief financial officer. The other was Jim Robo, who at the time was an executive for General Electric Co.Robo, a Harvard MBA, became NextEra’s CEO in 2012. He rarely grants media interviews and declined to comment for this story.“Things really took off when Lew, Moray and Jim got together,” Barclays Plc analyst Eric Beaumont said.When Robo came on board in 2002, wind power was a tiny slice of the U.S. power mix. But in another stroke of luck, Congress had just extended a tax credit that would prove to be the key to a wind generation boom across America that’s still going.It helped turn what was a once-sleepy utility -- established in 1925 as Florida Power & Light -- into a global powerhouse.NextEra, which changed its name in 2009 to reflect its growing focus on alternative energy, now has wind and solar farms in about two dozen U.S. states and four Canadian provinces. They total roughly 18 gigawatts, enough to power almost 13 million homes. Last year, its clean power business -- in addition to some natural gas and nuclear plants -- raked in $4.7 billion in profit, 70% of its net income.And the company isn’t done growing. It already has contracts to add another 12 gigawatts of renewables.Challenges remain. The federal tax credit for wind farms is set to start phasing out soon. And in Florida, a campaign is under way to pass a constitutional amendment that would break up monopolies held by NextEra’s utilities, Florida Power & Light Co. and Gulf Power. On an adjusted basis, the company’s utility business still made up the bulk of its earnings last year.Not all of NextEra’s bets have panned out. Its $18 billion attempt to buy Oncor Electric Delivery Co. in Texas crashed and burned. And its $2.6 billion attempt to buy Hawaiian Electric Industries Inc. fell apart, too.And for all the company’s clean energy, NextEra unsuccessfully fought in support of a 2016 measure in its home state of Florida that critics said would have limited rooftop solar growth and, hence, protected utility revenue. The company has a plan to install 30 million solar panels in Florida by 2030 and use batteries to replace fossil-fuel plants in its fleet.Long-Term ContractsNextEra’s strategy has hinged on building projects in states with deregulated power markets that required utilities to buy a certain amount of electricity from wind or solar farms, including Texas and California. It enables NextEra to line up long-term contracts, ensuring revenue for a decade or more.Early on, Robo negotiated a deal with his old company: GE. NextEra had a contract to buy natural gas turbines from the conglomerate. But the market for gas plants was in decline. So the utility convinced GE to rejigger the deal and allow it to buy wind turbines instead.“That’s a cause that led us to scale up our business much faster than maybe otherwise we would have done,” Hay said. The scale soon gave the company an advantage that made it hard for others to catch up.One of Robo’s adages is wind and solar are essentially big data operations. An early sign was in 2006, when NextEra bought WindLogics Inc., a high-tech forecaster. At the time, wind developers relied on WindLogics’s computer modeling techniques to predict wind patterns and pinpoint exactly where to site turbines. By acquiring the company, NextEra locked up that edge for itself.“That became a very powerful advantage,” Stephen Byrd, an equity analyst at Morgan Stanley, said in an interview.The company has said it will do just fine even after the federal tax credit for wind farm expires. The company’s size makes its well positioned to benefit from U.S.’s ongoing shift away from fossil fuels, said Timothy Winter, a portfolio manager at Gabelli Funds LLC.“They’re still in the very early innings of the ball game,” Winter said.(Updates with information on Florida solar project in 17th paragraph)To contact the reporter on this story: Gerson Freitas Jr. in New York at gfreitasjr@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Joe RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Utility ETFs in Focus on Mixed Q3 Earnings
    Zacks

    Utility ETFs in Focus on Mixed Q3 Earnings

    Here we look at some of the ETFs with strong exposure to three utility bigwigs post the release of their mixed Q3 earnings.

  • New Stocks on our Focus List
    Yahoo Finance

    New Stocks on our Focus List

    Read on for a preview of the stocks that have just been added to the Argus Focus List, available through Yahoo Finance Premium.

  • Ameren (AEE) Q3 Earnings Beat Estimates, Revenues Down Y/Y
    Zacks

    Ameren (AEE) Q3 Earnings Beat Estimates, Revenues Down Y/Y

    Ameren Corporation's (AEE) total revenues came in at $1,659 million in the third quarter, declining 3.9% year over year due to lower electric and natural gas sales volume.

  • Duke Energy (DUK) Q3 Earnings Top Estimates, Revenues Up Y/Y
    Zacks

    Duke Energy (DUK) Q3 Earnings Top Estimates, Revenues Up Y/Y

    Duke Energy's (DUK) bottom line improved 8.4% year over year to $1.79 per share in the third quarter, driven by revenues and operating income growth.

  • Brookfield Infrastructure (BIP) Q3 Earnings Miss Estimates
    Zacks

    Brookfield Infrastructure (BIP) Q3 Earnings Miss Estimates

    Brookfield Infrastructure (BIP) witnessed solid performance across segments in the third quarter.

  • Pinnacle West (PNW) Q3 Earnings Lag Estimates, Sales Drop Y/Y
    Zacks

    Pinnacle West (PNW) Q3 Earnings Lag Estimates, Sales Drop Y/Y

    Pinnacle West Capital's (PNW) Q3 earnings are affected by unfavorable weather conditions and lower transmission revenues.

  • NRG Energy (NRG) Q3 Earnings Lag Estimates, Revenues Rise Y/Y
    Zacks

    NRG Energy (NRG) Q3 Earnings Lag Estimates, Revenues Rise Y/Y

    NRG Energy's (NRG) adjusted EBITDA increases on a year-over-year basis in Q3.

  • CenterPoint Energy (CNP) Q3 Earnings Beat, Revenues Up Y/Y
    Zacks

    CenterPoint Energy (CNP) Q3 Earnings Beat, Revenues Up Y/Y

    CenterPoint Energy's (CNP) Q3 revenues of $2.74 billion miss the Zacks Consensus Estimate by 5.4% but rise 24% year over year.

  • WEC Energy (WEC) Q3 Earnings Top Estimates, Revenues Miss
    Zacks

    WEC Energy (WEC) Q3 Earnings Top Estimates, Revenues Miss

    WEC Energy (WEC) Q3 earnings remain flat on a year-over-year basis.

  • Eversource (ES) Q3 Earnings Beat Estimates, Revenues Miss
    Zacks

    Eversource (ES) Q3 Earnings Beat Estimates, Revenues Miss

    Eversource's (ES) Q3 earnings are better than expected owing to higher distribution revenues.

  • AES Corp (AES) Q3 Earnings Beat Estimates, Revenues Down Y/Y
    Zacks

    AES Corp (AES) Q3 Earnings Beat Estimates, Revenues Down Y/Y

    AES Corp's. (AES) earnings rise 37.1% year over year to 48 cents per share, primarily owing to contributions from new businesses and a lower effective tax rate.

  • Pattern Energy (PEGI) Q3 Loss Wider Than Expected, Sales Lag
    Zacks

    Pattern Energy (PEGI) Q3 Loss Wider Than Expected, Sales Lag

    Pattern Energy's (PEGI) Q3 results are adversely impacted by rising expenses despite a 6.9% year-over-year increase in electricity sales volumes.

  • Consolidated Edison (ED) Q3 Earnings Lag Estimates, Fall Y/Y
    Zacks

    Consolidated Edison (ED) Q3 Earnings Lag Estimates, Fall Y/Y

    Consolidated Edison's (ED) Q3 revenues of $3,365 million miss the Zacks Consensus Estimate by 3.8% but rise1.1% year over year.

  • FirstEnergy (FE) Q3 Earnings and Revenues Beat Estimates
    Zacks

    FirstEnergy (FE) Q3 Earnings and Revenues Beat Estimates

    Customer-focused, long-term infrastructure investment program drives FirstEnergy's (FE) Q3 results.

  • Hawaiian Electric (HE) Q3 Earnings Match Estimates, Fall Y/Y
    Zacks

    Hawaiian Electric (HE) Q3 Earnings Match Estimates, Fall Y/Y

    Hawaiian Electric's (HE) Q3 revenues of $771.5 million in the third quarter beat estimates by a whisker but decline 0.5% year over year.

  • Utilities Look Strong amid Growing Recession Fears
    Market Realist

    Utilities Look Strong amid Growing Recession Fears

    Along with the Dow Jones and S&P; 500, normally slow-moving utilities are trading at record highs right now. And they could continue to shine.

  • Dominion (D) Beats Q3 Earnings Estimates, Tightens View
    Zacks

    Dominion (D) Beats Q3 Earnings Estimates, Tightens View

    Dominion Energy's (D) Q3 earnings are better than expected owing to favorable weather and an increase in customer volume.

  • Sempra Energy (SRE) Beats on Q3 Earnings, Ups '19 EPS View
    Zacks

    Sempra Energy (SRE) Beats on Q3 Earnings, Ups '19 EPS View

    Sempra Energy's (SRE) Q3 revenues of $2,758 million increase 7.5% year over year. The top line, however, misses the Zacks Consensus Estimate by 5.6%.

  • Atlantic Power (AT) Q3 Earnings Top Estimates, Revenues Up Y/Y
    Zacks

    Atlantic Power (AT) Q3 Earnings Top Estimates, Revenues Up Y/Y

    The acquisition of Allendale and Dorchester drives Atlantic Power's (AT) Q3 results.

  • PNM Resources' (PNM) Earnings Beat Estimates in Q3, Up Y/Y
    Zacks

    PNM Resources' (PNM) Earnings Beat Estimates in Q3, Up Y/Y

    Warmer-than-normal weather drives PNM Resources' (PNM) Q3 results.

  • Exelon (EXC) Beats Q3 Earnings Estimates, Narrows Guidance
    Zacks

    Exelon (EXC) Beats Q3 Earnings Estimates, Narrows Guidance

    Exelon's (EXC) Q3 earnings gain from new rates, lower nuclear outage days and proper management of expenses.

  • Public Service Enterprise (PEG) Q3 Earnings Beat Estimates
    Zacks

    Public Service Enterprise (PEG) Q3 Earnings Beat Estimates

    Public Service Enterprise's (PEG) revenues in the third quarter of 2019 rise 3.2% year over year on growth in the PSE&G segment.

  • IDACORP (IDA) Q3 Earnings Drop Y/Y, View Narrow
    Zacks

    IDACORP (IDA) Q3 Earnings Drop Y/Y, View Narrow

    IDACORP's (IDA) Q3 earnings hurt by unfavorable weather condition. However, operating income increases on customer growth.