Morgan Stanley’s Top 5 Stock Picks for 2024

3. NextEra Energy Inc (NYSE:NEE)

Number of Hedge Fund Holders: 65

2024 Return so far: ~17%

NextEra Energy, Inc. (NYSE:NEE) is a major player in the electric power sector, involved in the generation, transmission, distribution, and sale of electricity across North America. Additionally, the company actively participates in energy commodity trading and manages electric generation facilities in wholesale energy markets.

Insider Monkey’s database for the fourth quarter showed that 65 hedge funds were bullish on NextEra Energy, Inc. (NYSE:NEE), an increase from 58 funds in the previous quarter. The largest position in the company was held by John Overdeck and David Siegel’s Two Sigma Advisors, with 3.9 million shares valued at $237.21 million.