Shares of Florida utility giant and renewable power developer NextEra Energy (NYSE: NEE) fell 5.5% on Tuesday.
Although utilities are supposed to be a stable and somewhat "boring" sector, they have been anything but over the past year. In NextEra's case, the stock swooned last year as long-term interest rates rose, but it recovered in early 2024 as the hypergrowth of artificial intelligence (AI) data centers spurred hope for outsized growth in electricity demand.
However, at today's Investor Day event, NextEra's mid-term guidance out to 2027 may have underwhelmed those hoping for a bigger AI tailwind.
Source Fool.com