Momentum Stocks to Buy: NextEra (NEE)
NextEra Energy Inc (NYSE:NEE) is the world’s largest generator of renewable energy from wind and sun resources. While its regulated utility subsidiary Florida Light and Power and its 4.9 million customers are a direct beneficiary of its renewable resources, NEE also has unregulated operations in over 30 states.
NEE is a new-style energy company. In the old days, companies like Enron gave deregulation a bad name, building a Wild West culture outside the regulated utility space.
Now many utilities are using deregulated divisions to sell wholesale power to industry, trade carbon credits to dirtier producers and help companies and governments build greener energy supplies.
Recently, super-investor Warren Buffett was trying to buy NEE, but was rebuffed. That tells you NEE has plenty of value locked up in its business. Up 18% year to date, it also delivers a nice 2.8% dividend.