5 Best Stocks That Will Always Grow

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

1-year Revenue Growth Rate: 9.47%

3-year Revenue Growth Rate: 16.61%

5-year Revenue Growth Rate: 9.87%

Number of Hedge Fund Holders: 65

NextEra Energy, Inc. (NYSE:NEE) is a major player in the utilities industry, and its subsidiary, Florida Power & Light, has a near monopoly in Florida as it is the largest rate-regulated utility in the state. At a stake value of $9.59 billion, 65 hedge funds held positions in NextEra Energy, Inc. (NYSE:NEE). As of Q4 of 2023, Two Sigma Advisors is the largest shareholder in the company and has a position worth $237.208 million.

Over the past 5 years, the company’s revenue increased 9.87%. On April 22, Scotiabank raised the price target on NextEra Energy, Inc. (NYSE:NEE) to $73 from $69 and maintained an Outperform rating on the shares.

ClearBridge Investments stated the following regarding NextEra Energy, Inc. (NYSE:NEE) in its fourth quarter 2023 investor letter:

“We added a new position in NextEra Energy, Inc. (NYSE:NEE), in the utilities sector, which acquires, owns and manages contracted clean energy projects in the U.S. The company was at the center of the defensive stock storm when it slowed its renewable growth outlook modestly in late September, and the stock collapsed almost 30% in less than two weeks. We saw this as an opportunity to invest in arguably the best combination of a regulated utility and an experienced renewable operator with good long-term growth options. Even at a much-reduced estimated growth rate from higher financing costs, which will likely prove to be conservative, our estimate of intrinsic business value is materially higher.”