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Time For Catch-Up Trades; NextEra Energy Inc. (NEE)

NextEra Energy Inc. (NEE), a utility business that specializes in establishing a green energy portfolio, released its second-quarter results last week. Profitability was achieved through high production and client expansion.

NextEra Energy Inc.’s (NEE) sales climbed by more than 31 percent year on year in the second quarter to $5.18, above Wall Street’s estimates. The robust operational performance of its affiliate Florida Power & Light Company (FPL), whose sales reached $4.42 billion, was the key driver of growth.

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In addition, NEE invested an additional $1.9 billion in the past quarter to service a rising customer base (87,000 new customers acquired last year) and improve its utility division. The Dania Beach Clean Energy Century facility, which was just finished, will cut expenses and carbon emissions.

During the quarter, more than 2 GW of new renewable energy and storage development projects were added. This includes the addition of 1.2 GW of solar power projects, the second-best quarter in the company’s history for new solar projects. Thus, despite economic instability, demand for renewable energy sources remains stable.

The main plant of NextEra Energy Inc. (NEE), FPL, now generates 4 GW of solar electricity from around 15 million solar panels. FPL intends to install hundreds of millions of solar panels by 2045, giving it the ability to generate more than 90 GW of solar electricity. Furthermore, the company aims to deploy more than 50 GW of batteries, up from 500 MW now.

NextEra Energy earned $1.6 billion in the second quarter or $0.81 per share. Earnings per share are expected to be between $2.8 and $2.9 for the year, up 12 percent year on year. NextEra Energy Inc. (NEE) intends to grow profits per share to $3.45-$3.7 by 2024.

Remember that NextEra Energy Inc. (NEE) pays a dividend, and its current yield is 2.2 percent, which is greater than the yield on the S&500 index.

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