NextEra Lights up Florida

10/09/2013 8:00 am EST

Focus: STOCKS

David Fish

Executive Editor, Moneypaper

October begins with a Federal government shutdown, all because Democrats and Republicans could not reach an agreement on a budget for the new fiscal year, observes David Fish, editor of Direct Investing.

Whatever its weaknesses may be, the private economy rarely faces such crises, driven as it is by a clear profit motive, and absent the need for public debate.

Investors are the beneficiaries of the businesses that make America run, and they will continue to enjoy those benefits, no matter how dysfunctional the government may be, simply because they meet the needs of consumers day in and day out.

Our latest featured recommendation for dividend reinvestment plan investors is NextEra Energy (NEE), which is the parent of Florida Power & Light.

The utility engages in the generation, transmission, and distribution of electricity to 4.6 million customers in a 27,650 square mile area of eastern and southern Florida.

Its NextEra Energy Resources subsidiary is a non-regulated power generator that produces electricity from nuclear, natural gas, solar, and wind generation.

It is the US leader in production of energy from wind and produces 95% of its output from renewable resources, with a capacity to produce 8,500 megawatts from those sources.

The company is expected to earn about $4.95 per share this year and $5.29 in 2014, compared with $4.57 in 2012.

The dividend has been increased for 19 consecutive years and the annual payout of $2.64 per share results in a yield of 3.3%.

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