It operates in a great location. Florida has seen a material influx of residents in recent years as people look to move to a warmer climate and a low tax state. There's no particular reason to expect this trend to change, which means more customers to serve over time. That, in turn, will translate into more growth as the company expands and upgrades its operations to ensure it can safely meet demand. The key is that spending for these purposes has historically led and should continue to lead to regulator approval for rate increases.
NextEra Energy (NYSE:NEE) is a utility, for sure. But it's really two businesses in one. Investors looking at the stock need to understand just what's going on at this industry giant and, more importantly, what that means for the future. Here's a primer on what you need to know about NextEra Energy before you buy it. NextEra Energy owns one of the largest regulated electric utilities in the United States. Its Florida Power & Light business serves over five million customers. The company recently expanded its reach in the state, as well, buying Gulf Power from Southern Company, a move that added another 460,000 customers in the state.
Source: Motley Fool
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