Is NextEra Energy the Best Dividend Stock for You?
Share prices of NextEra Energy (NYSE: NEE) have fallen 27.1% so far in 2023, leaving the dividend yield at 3.1%. That's simply too cheap to pass up for a dividend that's grown at an 11% compound annual growth rate since 2023.
The utility faced pressure from higher interest rates and the potential that some renewable energy projects won't be built economically, but in the long term this is one of the best utilities in the country, and a stock dividend investors will want to buy and forget about.
In the third quarter of 2023, NextEra Energy's biggest utility, Florida Power and Light (FPL), recorded $5.5 billion in revenue and net income of $1.18 billion. This is the core cash-generating business for the company. Other operations, like renewable energy owner NextEra Energy Resources, reported a loss of $230 million.
Source Fool.com
