‘More Pain Likely Ahead’: 5 Stocks to Brace Yourself for Recession

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

Number of Hedge Fund Holders: 64

NextEra Energy, Inc. (NYSE:NEE) was founded in 1925 and is headquartered in Juno Beach, Florida. The company generates electric power through wind, solar, nuclear, coal, and natural gas facilities, catering to retail and wholesale customers in North America. NextEra Energy, Inc. (NYSE:NEE) posted Q1 earnings per share of $0.74, beating market consensus by $0.02. The company also announced on May 19 a $0.425 per share quarterly dividend, payable on June 15 to shareholders of the company as of May 31.

Mizuho analyst Paul Fremont reiterated a Buy rating on NextEra Energy, Inc. (NYSE:NEE) but lowered the price target on the stock to $81 from $88 after the Q1 results. The analyst does not expect the Department of Commerce’s solar panel investigation to lead to greater tariffs on panels from Southeast Asian countries, as it will likely slow the progress of U.S. decarbonization goals. NextEra Energy, Inc. (NYSE:NEE) has affirmed its growth guidance through 2025, and the company will continue to lead in the utility space with earnings growth at 8%, said the analyst.

Among the hedge funds tracked by Insider Monkey, 64 funds were bullish on NextEra Energy, Inc. (NYSE:NEE) at the end of Q1 2022, up from 55 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 15.6 million shares worth $1.3 billion.