Should You Add NextEra Energy (NEE) to Your Portfolio?

ClearBridge Investments, an investment management company, released its “ClearBridge Global Infrastructure Value Strategy” third quarter 2022 investor letter. A copy of the letter can be downloaded here. In the third quarter, the strategy outperformed the S&P Global Infrastructure Index. The stock selection in the electric, rail, and renewables sectors contributed positively to the fund’s performance. In contrast, stock selection in the water and airports sectors impacted the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like NextEra Energy, Inc. (NYSE:NEE) in its Q3 2022 investor letter. Headquartered in Juno Beach, Florida, NextEra Energy, Inc. (NYSE:NEE) engages in the electric power business. On November 22, 2022, NextEra Energy, Inc. (NYSE:NEE) stock closed at $84.11 per share. One-month return of NextEra Energy, Inc. (NYSE:NEE) was 10.32%, and its shares lost 4.15% of their value over the last 52 weeks. NextEra Energy, Inc. (NYSE:NEE) has a market capitalization of $167.14 billion.

ClearBridge Investments made the following comment about NextEra Energy, Inc. (NYSE:NEE) in its Q3 2022 investor letter:

“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.”

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NextEra Energy, Inc. (NYSE:NEE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 73 hedge fund portfolios held NextEra Energy, Inc. (NYSE:NEE) at the end of the third quarter, which was 59 in the previous quarter.

We discussed NextEra Energy, Inc. (NYSE:NEE) in another article and shared the list of best blue chip dividend stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.