NextEra Energy Inc.NEE NextEra Energy Inc. fair value $81–$127

NextEra Energy represents a premier hybrid utility, combining a stable regulated base (FPL) with a leading clean energy development business (NEER). Its scale, execution track record, and structural tailwinds in renewables position it as a steady compounder, though capital intensity and interest rate sensitivitySensitivity analysisA 5×5 grid showing how fair value moves under different combinations of two key drivers (typically Ke and terminal growth). Stress-tests the central case. pose moderate headwinds.

• Regulated monopoly in Florida (FPL)
  Regulated monopoly in Florida (FPL) providing highly visible cash flows.
• Unmatched scale and early-mover advantage
  Unmatched scale and early-mover advantage in renewable energy development (NEER).
• Cycle upside
  Accelerating electrification and data center power demand drive unprecedented need for utility-scale renewables.