5 Best Electric Utility Stocks to Buy Now

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

Number of Hedge Fund Holders: 63

NextEra Energy, Inc. (NYSE: NEE) is a Florida-based electric utility company. Its Florida Power & Light Company serves more than 11 million customers. It is ranked first on our list of 10 best electric utility stocks to buy now. The stock has returned over 12.18% to investors over the course of the past year.

On July 23, NextEra Energy, Inc. (NYSE: NEE) posted earnings for the second quarter of 2021, reporting earnings per share of $0.71, beating estimates by $0.02. The revenue over the period was around $3.93 billion, down 6.59% year-over-year.

At the end of the first quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $2.73 billion in NextEra Energy, Inc. (NYSE: NEE), up from 61 the preceding quarter worth $3.08 billion. Out of the hedge funds being tracked by Insider Monkey, billionaire Ken Fisher’s Fisher Asset Management has the most valuable stake in NextEra Energy, Inc. (NYSE: NEE), worth close to $1.03 billion, comprising 0.72% of its total 13F portfolio.

On July 13, Credit Suisse gave NextEra Energy, Inc. (NYSE: NEE) an Outperform rating with a price target of $85.

You can also take a peek at 15 Best Value Stocks to Invest In and 10 Best Dividend Contenders to Buy in 2021.

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