5 Best Alternative Fuel Stocks To Buy Right Now

2. NextEra Energy, Inc. (NYSE:NEE)

Number of Hedge Fund Holders: 61

NextEra Energy, Inc. (NYSE:NEE) is a Florida-based utility company serving the United States and Canada. Through its subsidiary NextEra Energy Partners, LP (NYSE:NEP), it provides wind, solar, and natural gas-based energy solutions.

NextEra Energy, Inc. (NYSE:NEE) has been increasing its dividend for the last 30 years. Even though the company’s dividend yield of 2.47% (at the time of writing) is lower than the sector’s average yield of 3.75%, it has almost tripled its payout in the last 10 years. On February 17, NextEra Energy, Inc. (NYSE:NEE) declared a 10% increase in its quarterly dividend to $0.4675 per share. It was paid out on March 15 to the shareholders of record on February 28.

On January 26, Guggenheim analyst Shahriar Pourreza maintained a Buy rating on NextEra Energy, Inc. (NYSE:NEE)’s stock and lowered the price target to $96 from $102. The analyst’s price target represents a 26.8667% upside to the company’s stock price of $75.67 at the time of writing.

ClearBridge Investments made the following comment about NextEra Energy, Inc. (NYSE:NEE) in its Q3 2022 investor letter:

“NextEra Energy, Inc. (NYSE:NEE) is an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. NextEra’s regulated business includes Florida Power & Light, which serves nine million people in Florida. NextEra’s share price rose along with the passage of the U.S. Inflation Reduction Act, which considerably expands support for renewable energy.”