On April 9, 2014, shares of
NextEra Energy, Inc.
) reached a new 52-week high of $97.31. Shares gained almost
25.9% in the past one-year period. The average volume of shares
traded over the last three months came in at 2,080,280.
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NextEra Energy's 2013 operating earnings beat the Zacks Consensus
Estimate by 0.4%. Operating earnings also increased 8.7% year
over year. The uptrend was driven by the company's effective
execution of development projects, continual customer additions
and service start-up of contracted renewable projects.
For 2014, the company expects operating earnings in the range of
$5.05 to $5.45 per share. The Zacks Consensus Estimate for 2014
is pegged at $5.31 per share, showing a year-over-year estimated
improvement of 6.9%.
NextEra Energy is a premier U.S. utility service provider
offering efficient power and energy services across various
states. The company has a strong backlog of solar and wind
contracted projects. NextEra presently has a backlog of nearly
785 Megawatt (MW) of solar projects in the U.S. and a backlog of
466 MW of wind projects in Canada. This will help the company to
meet its target of compounded annual earnings growth rate of 5%
to 7% through 2016.
A strengthening Florida economy plus some cost efficient projects
will act as tailwinds for the company in the future. The recent
agreement to purchase the 250 MW Silver State South Project from
First Solar Inc.
) will help in expanding the company's already premier renewable
asset base. With wind and solar generation becoming more cost
effective, the share of green energy in electricity generation is
expected to rise significantly in the future.
Cash flow from operating activities for this Zacks Rank #3 (Hold)
company in 2013 was $5.09 billion, up 27.7% from the year-ago
level. Free cash flow in 2013 was $2.41 billion, which will
enable the company to distribute regular dividends. Recently, the
company increased its quarterly dividend by 9.8% to 72.5 cents
per share from 66 cents per share earlier.
Other better-ranked stocks in this sector include
NRG Energy, Inc.
Public Service Enterprise Group Inc.
). Both these stocks hold a Zacks Rank #1 (Strong Buy).