10 Best Electric Utility Stocks To Invest In

2. NextEra Energy, Inc. (NYSE:NEE)  

Number of Hedge Fund Holders: 73

NextEra Energy, Inc. (NYSE:NEE) is a leading utility company in North America, engaged in generating, transmitting, distributing, and selling electricity. The company is also active in energy commodity trading and operates electric generation facilities in wholesale energy markets.

On October 25, Goldman Sachs reinforced its positive outlook on NextEra Energy, Inc. (NYSE:NEE) by raising the 12-month price target from $86 to $92 and maintaining a Buy rating. Goldman Sachs highlighted the company’s solid positioning in renewable energy development, noting that NextEra Energy, Inc. (NYSE:NEE) now needs to add just 1.7 gigawatts per quarter to achieve the midpoint of its target range—down from the roughly 3 GW added each of the last two quarters. This progress aligns with Goldman Sachs’ forecast of a 10% annual EPS growth rate for NextEra Energy through 2027.

In its third-quarter results, NextEra Energy, Inc. (NYSE:NEE) reported earnings that exceeded expectations, with net income rising to $1.852 billion, or $0.90 per share, compared to $1.219 billion, or $0.60 per share, a year prior. Adjusted earnings reached $2.127 billion, or $1.03 per share, while revenue grew by 5.5% to $7.567 billion from $7.172 billion in Q3 of the previous year.