AllAnalyst Report
logoArgusOctober 22, 2021

NextEra Energy, Inc.: Strong play on renewable energy; raising target to $95

Symbols
NEE
Sector(s)
Utilities
Rating
Current Price
$89.51
Price Target
Earnings Estimate
Summary

NextEra Energy provides a range of regulated and nonregulated energy products and services. The company has a presence in 38 states with 24 GW of energy generation assets and 4 Canadian provinces with 0.5 GW of generation assets. It also owns regulated electric utility assets in Florida, including Florida Power & Light (FPL) and Gulf Power, which together serve 5.6 million customers in southern Florida, eastern Florida, and the Florida panhandle. NextEra Energy Resources, a nonregulated electricity generating subsidiary, is the largest U.S. generator of wind and solar power. The company is now aiming to broaden its regulated operations with a move into the water utility space. This portion of the business is currently nonmaterial, but management has signaled a willingness to continue to invest in water utilities.

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