Why NextEra Energy's Stock Is Rallying Today

Shares of NextEra Energy (NYSE: NEE) surged more than 5% by 10:45 a.m. EDT on Tuesday. Powering the utility stock was news it was splitting its shares and an update to its growth forecast. 

NextEra Energy unveiled plans to make its high-priced stock (shares are approaching $300 apiece after today's rally) more accessible to the average investor. The utility will enact a 4-for-1 split, which it expects to complete on Oct. 27. Stock splits have become increasingly popular this year after tech giants like Apple and Tesla made headlines by splitting their stocks, which helped fuel more gains before the recent sell-off in tech stocks. 

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Source Fool.com