This Energy Stock Beat the S&P 500 in the First Half of 2024. Is It Still a Buy?

Shares of NextEra Energy (NYSE: NEE) surged 16.6% through the first half of 2024. That outpaced the strong start of the S 500, which gained 14.5%. Add in dividends, and the outperformance was even wider (18.5% versus 15.3%).

Beating the S 500 has been a fairly common occurrence for NextEra Energy. It has outperformed the market over the last five-, 10-, and 15-year periods by pretty wide margins. That trend appears poised to continue, making the utility stock continue to look like an attractive buy right now.

NextEra Energy had a strong first half of the year. The company grew its adjusted earnings per share by 8.3% in the first quarter. Its Florida-based utility (FPL) benefited from investments to maintain and expand its infrastructure (including growing its leading utility-scale solar energy-generating capacity).

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Source Fool.com