Posted 4/2/2024, 4:50:23 PM
NextEra Energy Powers Ahead With Strong Florida Utilities and Renewables Growth
- Utilities sector rebounded in late Q1 after weak start; NextEra (NEE) is top component of XLU ETF
- NEE operates Florida utilities business and NextEra Energy Resources renewable energy assets
- Recently reported strong Q4 results; reaffirmed 6-8% annual EPS growth guidance
- Trades at premium to peers but deserves it given growth prospects like AI
- Technically, NEE nearing long-term resistance around $67-$70 area but has bullish momentum
