taikrixel
NextEra Energy (NYSE:NEE) investors have underperformed the S&P 500 (SPX) (SPY) over the past year, notwithstanding its solid execution amid a challenging macroeconomic backdrop. I last updated NEE investors in December 2023, assessing the possibility of a further recovery as interest rates declined from their October 2023 highs. However, NEE Bulls lost momentum as the market reassessed its optimism about the Fed’s rate cut cadence. Given the resilience of the US economy, investors must temper their initial expectations of six cuts, suggesting the Fed will not likely shift to a lower gear in its upcoming March meeting.
NextEra Energy posted a solid performance at NEE’s fourth-quarter earnings release in late January 2024. It has continued progressing in its core Florida Power & Light or FPL utilities business. Accordingly, FPL posted an “increase in adjusted EPS by 22 cents.” Furthermore, its ROCE has remained stable at…
