Down Over 30%, This Magnificent Growth Stock Looks Like a Screaming Buy

NextEra Energy (NYSE: NEE) has delivered supercharged growth over the years. In the decade from 2012 to 2022, the clean energy-focused utility grew its adjusted earnings per share at a 9.8% compound annual rate. It continued its magnificent growth rate last year, delivering 9.3% adjusted earnings growth in the midst of significant headwinds.

Despite that strong growth, NextEra Energy's stock has shed nearly a third of its value over the past year due to rising interest rates and growth concerns. That makes the utility look like a screaming buy these days, given the growth that still lies ahead.

NextEra Energy recently reported its fourth-quarter and full-year results for 2023. "NextEra Energy had an excellent year of execution in 2023, growing full-year adjusted earnings per share by more than 9% over 2022," stated CEO John Ketchum in the fourth-quarter earnings report. The CEO noted, "Due to strong operational and financial performance at both FPL (Florida Power Light) and NextEra Energy Resources, we exceeded the high end of our adjusted earnings per share expectations range and continued our track record of providing long-term value for shareholders."

Continue reading

Source Fool.com