15 Best Large Cap Energy Stocks to Buy According to Hedge Funds

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

No. of Hedge Funds Holders: 75

NextEra Energy, Inc. (NYSE:NEE) is the world’s largest generator of renewable energy from the wind and sun and a global leader in battery storage. It is also the owner of the Florida Power & Light Company – America’s largest electric utility, which benefits greatly from Florida’s famous sunshine and growing population.

NextEra Energy, Inc. (NYSE:NEE) currently boasts 72 GW of power generation capacity across the country, with 28 GW of renewable energy projects currently in its backlog. The company wants to ensure it steps up to meet America’s rising electricity demand by investing about $120 billion in the country’s energy infrastructure over the next four years. NEE expects these investments to grow its adjusted EPS at or near the high end of its 6% to 8% annual target range through 2027. It will also help grow the utility company’s dividend at around 10% per share through at least next year.

NextEra Energy, Inc. (NYSE:NEE) has reduced its tariff exposure by shifting it to suppliers and contracting with domestic manufacturers. However, the company recently suffered a setback after President Trump’s sweeping tax and spending bill, intended to end Biden-era tax credits for clean energy projects years sooner than planned, advanced through the House of Representatives. The bill marks a significant blow for America’s ballooning solar energy industry, which relies heavily on these tax credits to sustain itself.