Alternate Energy Sector Ideas

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NextEra Energy - >>> A play on the future of energy


https://www.fool.com/investing/2020/10/24/5-great-stocks-you-can-buy-and-hold-forever/


With much of the world in the midst of transitioning to greater use of clean energy sources, investors ought to play the trend -- and what better way to do that than to own a piece of the largest producer of wind and solar power, NextEra Energy (NYSE:NEE)? This company offers the stability that comes with a defensive utility stock combined with exponential growth potential.

Dividend growth largely drove NextEra stock's explosive total returns in the past: Its payouts grew at a compound annual rate of 9.4% between 2004 and 2019, underpinned by annualized growth in adjusted earnings per share of 8.4%. Those trends should continue, what with NextEra's visionary management consistently setting ambitious financial goals. For example, it's targeting high single-digit-percentage growth in adjusted EPS annually through 2023 and dividend growth in line with earnings.

NextEra Energy's renewables project backlog just crossed 15 gigawatts, which is more than its existing renewables capacity. That's a humongous growth in the pipeline, and with industry experts expecting trillions of dollars worth of investment in renewable energy in just the next decade, this stock is for keeps.

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