Historically, September has not been such a great month for stock splits; last month, however, was a surprise as we had four split announcements, observes Neil Macneale, editor of 2 for 1 Stock Split Newsletter.

With four splits to consider — Rush Enterprises (RUSHA), McCormick & Co. (MKC), NetEase (NTES) and NextEra Energy (NEE)  — our 2 for 1 ranking algorithm was dusted off and it gave us a clear signal.

Suffice it to say our ranking algorithm scored NextEra Energy well above the others. NextEra Energy is one of the largest electric power and energy infrastructure companies in North America and a leader in the renewable energy industry.

It does business as Florida Power and Light, a regulated utility, and NEER, the world's largest generator of renewable energy from the wind and sun.

Of the five largest US electric utilities, NEE has been the only one with a rising stock price over the last year, apparently due, in large measure, to the growing realization that renewables are where the industry will be heading, with NEE already in the lead.

The P/E is higher than I like, a problem shared by most of the recent additions to the Index. It can be argued this is balanced by the steady growth in earnings, a 5-year dividend growth of over 11% per year, and a debt-to-capital ratio below that of all its peers. Returns on investment, equity, and assets are all higher than industry averages.

The icing on the cake is a very low Beta, a number suggesting we should see much lower volatility in NEE’s stock price when compared to the market. NEE is splitting 4 for 1. Even if you buy after the record date (which occurred on 10/19), you will still receive the split shares to be delivered on 10/26.

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