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Stock Alert: NextEra Energy Touches 52-Week High

The stock, NextEra Energy Inc. (NEE) reached a new 52-week high of $297.56 today, and is currently trading at $297.56, up $15.64 or 5.55% in the regular session. Trading volume is 554K versus an average volume of 1.72 million shares.

On Monday, the company raised its financial outlook based on the ongoing strength of the renewables development environment and the continued execution across all of its businesses.

For 2021, NextEra Energy increased its financial expectations by $0.20 and now expects adjusted earnings of $9.60 - $10.15 per share. For 2022 and 2023, NextEra Energy expects to grow 6% - 8%, off the expected increased 2021 adjusted earnings per share.

"The increase and extension of our financial expectations is a reflection of NextEra Energy's continued strong performance across all of its businesses and our belief that we remain as well-positioned as ever with excellent prospects for growth," said Jim Robo, NextEra Energy chairman and chief executive officer.

In addition, the NextEra Energy has approved a four-for-one split, which is intended to make stock ownership more accessible to a broader base of investors. Each shareholder of record on October 19, will receive three additional shares of common stock, to be distributed on October 26. Trading will begin on a stock split-adjusted basis on October 27.

As a result of the four-for-one stock split, NextEra Energy is updating its adjusted earnings outlook. In 2020, the company now expects adjusted earnings of $2.18 - $2.30 per share. For 2021, the company expects adjusted earnings of $2.40 - $2.54 per share. For 2022 and 2023, NextEra Energy expects to grow 6% - 8%, which translates to $2.55 - $2.75 per share and $2.77 - $2.97 per share, respectively.

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