Timothy Winter, Analyst at Gabelli & Company, is currently recommending NextEra Energy Inc (NEE). He says the company, through its subsidiary Florida Power & Light, is growing its customer base in Florida.
“The regulation is very supportive,” Winter says. “We see them growing the regulated business there at an above-industry average.”
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In addition, Winter says their nonregulated business, NextEra Energy Resources, has a significant pipeline to grow in both the solar and wind businesses. The company created a yieldco, NextEra Energy Partners, of which they are the general partner, and that business has performed well.
“They were going to IPO at $20; it’s now trading at $43. The yieldco is going to be a driver of the renewable business,” Winter says. “As the general partner, they’re going to get a disproportionately high IDR; they get to share at a disproportionately high level the dividends going forward.”
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