NextEra Energy (NEE) is expected to publish its 3Q15 earnings on October 28, 2015. As a heads-up to the company’s upcoming earnings, we’ll have a look at NEE’s stock performance, 3Q15 guidance, market expectations, and other updates. We’ll start with a stock performance for NextEra and its peers.
With the Fed’s dovish stance on a rate hike on weak global cues, the SPDR Utilities ETF (XLU) outperformed the broader market in 3Q15. The SPDR Utilities ETF rose 4.4% in 3Q15 while the SPDR S&P500 ETF dropped 7.2% in the same period. Utilities have been the prime beneficiaries of low interest rates over the last six to seven years. Utilities took advantage of ultra-low interest rates by modernizing plants and increasing capacities.
NextEra Energy (NEE) fell marginally in 3Q15 while Duke Energy (DUK) and Dominion Resources (D) rose 1.9% and 5.2%, respectively. Note that this performance is based purely on stock prices and excludes dividends.
About NextEra Energy
Headquartered in Juno Beach, Florida, NextEra Energy (NEE) is the largest renewable electricity generator in the United States. NextEra operates approximately 17% of installed wind capacity and 14% of installed solar capacity in the United States.
The company owns nearly 45,000 MW (megawatts) of electricity generation capacity and operates in Canada and 26 US states. It operates through two key subsidiaries, Florida Power and Light (or FPL) and NextEra Energy Resources, in both regulated and wholesale markets. NEE is the second-largest American power utility by market capitalization after Duke Energy (DUK).