5 Best Passive Income Stocks To Buy Now

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

Number of Hedge Fund Holders: 61

NextEra Energy, Inc. (NYSE:NEE) is an American renewable energy company, based in Florida. On February 7, the company announced a quarterly dividend of $0.4675 per share, having raised it by 10%. This was the company’s 27th consecutive year of dividend growth, which makes it one of the best dividend stocks for passive income. The stock’s dividend yield on April 19 came in at 2.37%.

Erste Group appreciated the business model and dividend policy of NextEra Energy, Inc. (NYSE:NEE) and upgraded the stock to Buy in March.

At the end of Q4 2022, 61 hedge funds tracked by Insider Monkey owned investments in NextEra Energy, Inc. (NYSE:NEE), worth over $2.15 billion collectively. Ken Griffin and Jos Shaver were some of the company’s leading stakeholders in Q4.

ClearBridge Investments mentioned NextEra Energy, Inc. (NYSE:NEE) in its Q3 2022 investor letter. Here is what the firm has to say:

“NextEra Energy, Inc. (NYSE:NEE) is an integrated utility business with a regulated utility operating in Florida and the largest wind business in the U.S. NextEra’s regulated business includes Florida Power & Light, which serves nine million people in Florida. NextEra’s share price rose along with the passage of the U.S. Inflation Reduction Act, which considerably expands support for renewable energy.”