The Gabelli Utilities Fund on NextEra Energy Inc.
Thesis
NextEra combines Florida Power & Light with a large non-regulated portfolio of wind, solar, nuclear, and battery assets. The pending Dominion Energy acquisition is expected to be immediately accretive and lift long-term EPS growth above 9%. The deal also expands exposure to Virginia and PJM, where hyperscale data-center demand is driving strong load growth.
“NEE expects its pending acquisition of Dominion Energy to be immediately accretive.”