Is NextEra Energy Stock a Buy?
Shares of U.S. utility NextEra Energy (NYSE: NEE) are on quite a run so far in 2020, up nearly 30%. For comparison, the average utility, using Vanguard Utilities ETF as a proxy, is down about 6%. What's behind NextEra's big run, and is it worth buying at current prices?
When NextEra reported second-quarter earnings, they continued what has been a long line of good results. Adjusted earnings in the three-month span came in at $2.61 per share, up 11% from the prior year's $2.35. CEO Jim Robo noted that, "Despite the challenges created by the COVID-19 pandemic, all of our businesses continue to perform well and maintain their excellent prospects for growth going forward." In other words, he sees no reason to expect the good news to end.
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Source Fool.com
