11 Undervalued Dividend Aristocrats to Buy Now

8. NextEra Energy, Inc. (NYSE:NEE)

Forward P/E Ratio as of May 7: 18.02

Headquartered in Florida, NextEra Energy, Inc. (NYSE:NEE) is a major player in the renewable energy sector. It operates one of the largest electric utilities in the United States, Florida Power & Light (FPL), and manages a globally significant renewable energy business through NextEra Energy Resources. These operations generate steady cash flow, which the company uses to fund dividends and reinvest in growth initiatives.

In the first quarter of 2025, NextEra Energy, Inc. (NYSE:NEE) reported solid financial results. Revenue reached $6.25 billion, reflecting a 9% increase compared to the same quarter last year. Adjusted earnings per share also rose by nearly 9% year-over-year—a notable achievement for a utility firm. This growth was driven by strong contributions from both FPL and the company’s renewable energy segment. FPL alone delivered $1.3 billion in adjusted net income, or $0.64 per share, representing an increase of more than 12% from the prior year. The company continues to prioritize strategic capital investments to meet Florida’s rising energy demands while maintaining affordable electricity rates.

NextEra Energy, Inc. (NYSE:NEE) also ended the quarter with a solid financial position, holding more than $2.4 billion in cash and cash equivalents. Its operating cash flow totaled $2.77 billion, further supporting its status as a reliable dividend-paying company. It currently pays a quarterly dividend of $0.5665 per share for a dividend yield of 3.32%, as of May 7. It is one of the best dividend aristocrat stocks on our list, as the company has been rewarding shareholders with growing dividends for the past 29 years.