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NextEra Energy Inc NEE

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Morningstar’s Analysis

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NextEra Energy Increases Renewable Energy Expectations, Delivers Strong 2020 Results

Andrew Bischof, CFA, CPA Senior Equity Analyst

Analyst Note

| Andrew Bischof, CFA, CPA |

We are increasing our fair value estimate to $75 per share from $68 after NextEra Energy reported full-year 2020 operating earnings of $2.31 per share, up 10.5% from 2019. We are reaffirming our narrow economic moat and stable moat trend ratings. Management reaffirmed its 2021 EPS guidance of $2.40 to $2.54 and 6% to 8% earnings growth through 2023. We expect NextEra to hit the upper end of both ranges.

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Company Profile

Business Description

NextEra Energy's regulated utility, Florida Power & Light, distributes power to roughly 5 million customers in Florida. Florida Power & Light contributes roughly 60% of the group's operating earnings. The renewable energy segment generates and sells power throughout the United States and Canada. Consolidated generation capacity totals more than 50 gigawatts and includes natural gas, nuclear, wind, and solar assets.

700 Universe Boulevard
Juno Beach, FL, 33408
T +1 561 694-4000
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 14,900