This Top-Tier Utility Stock Is Considering an Acquisition Binge
NextEra Energy (NYSE: NEE) has a long history of making acquisitions that move the needle for shareholders. In 2016, for example, the company bought several assets from fellow utility Southern Company, including Gulf Power, which should boost its earnings per share by $0.15 this year and another $0.20 in 2021. It has already taken steps to secure its next purchase after emerging as the recommended bidder for troubled South Carolina utility Santee Cooper.
On top of that, it has reportedly hired advisors to help prepare an offer for Evergy (NYSE: EVRG), which is under activist pressure to sell. If it's successful on both deals, NextEra Energy will supercharge an already high-powered growth plan.
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Source Fool.com
