5 Best Utility Stocks To Buy Now

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

Market cap as of March 28: $150.02 Billion
Number of Hedge Fund Holders: 61

NextEra Energy, Inc. (NYSE:NEE), based in Juno Beach, Florida, owns Florida Power & Light Company and NextEra Energy Resources, which are major players in the clean energy market. Florida Power & Light serves over 5.7 million customers and supports more than 11 million Florida residents. NextEra Energy Resources is the world’s largest generator of renewable energy from wind and solar, and a leader in battery storage.

NextEra Energy, Inc. (NYSE:NEE) is investing billions of dollars in expanding its clean energy business and eliminating carbon emissions from operations by 2045, aiming for EPS growth at or near the high end of its 6-8% annual target range through 2025, faster than peers in the sector.

Insider Monkey tracked 61 hedge funds with positions in NextEra Energy, Inc. (NYSE:NEE) in the fourth quarter, down from 73 in the previous quarter. NextEra Energy, Inc. (NYSE:NEE)’s largest shareholder is Adage Capital Management, with 2.02 million shares worth over $168.97 million.

ClearBridge Investments commented on NextEra Energy, Inc. (NYSE:NEE) in i ts 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.”

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