10 Best Utility Stocks to Buy Now

2. NextEra Energy Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 72

NextEra Energy Inc. (NYSE:NEE) is a major North American energy provider. This energy company generates and distributes clean and traditional electricity with a total capacity of 33,276 megawatts. It serves over 12 million people across Florida and other eastern and western coastal regions.

For Q1 2024, NextEra Energy Inc. (NYSE:NEE) reported positive results. Earnings per share increased 8.3% year-over-year to $0.91. Furthermore, NextEra Energy (NYSE:NEE) maintained its long-term financial outlook. The company expects adjusted earnings per share for 2024 to fall within the $3.23 to $3.43 range.

NextEra Energy Inc. (NYSE:NEE) forecasts earnings growth in the range of 6% to 8% for both 2025 and 2026. This translates to a projected per-share earnings range of $3.45 to $3.70 for 2025 and $3.63 to $4.00 for 2026. Moreover, NextEra Energy expects to maintain a steady dividend increase of roughly 10% annually through at least 2026.

Investors and analysts are confident in NextEra Energy Inc. (NYSE:SEE)’s growth trajectory, reflected in a “Moderate Buy” rating and a price target of $78.4, suggesting an upside potential of over 7% from the current price levels.