5 Best Utility Stocks to Invest In

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

Number of Hedge Fund Holders: 63  

Topping the 15 best utility stocks to invest in is American energy company NextEra Energy, Inc. (NYSE:NEE). The Florida-based energy giant engages in building energy infrastructure and the development of renewable energy. NextEra Energy, Inc. (NYSE:NEE) is one of the best utility stocks to invest in over 5 million customer accounts, accounting for 10 million people.

In April, Barclays analyst Eric Beaumont raised NextEra Energy, Inc.’s (NYSE:NEE) price target to $82 from $78 and kept its Equal Weight rating, highlighting the company’s leadership position in the industry. NextEra Energy, Inc. (NYSE:NEE) was also assumed coverage by Credit Suisse analyst with an Outperform rating and an $85 price target. The stock has gained 10% in the last twelve months. Shares of ARAY also increased 2% in the last month.

The company has a market cap of $150 billion and currently offers a dividend yield of 2.00%. In the first quarter of 2021, NextEra Energy, Inc. (NYSE:NEE) had an EPS of $0.67, beating estimates by $0.08. The company’s first-quarter revenue was $4.61 billion, missing consensus estimates of $4.86 billion. However, the company is well-positioned and projecting an adjusted EPS range of $2.55-$2.75 and $2.77-$2.97 for 2022-2023.

At the end of the first quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $2.72 billion in NextEra Energy, Inc. (NYSE:NEE).

You can also take a peek at the 10 Best Finance Stocks that Pay Dividends and 10 Best Low Float Stocks to Buy Now.

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