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Strategies & Market Trends : Young and Older Folk Portfolio
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From: chowder10/29/2022 1:01:41 PM
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Roger Conrad of Utility Forecaster says:

NextEra Energy (NYSE: NEE) is the utility that was in the eye of Hurricane Ian. But the utility posted 13 percent Q3 earnings growth, led by an 11.3 percent increase in regulatory capital employed and 19.4 percent higher profit at the unregulated Energy Resources unit. And management again affirmed earnings guidance through 2025.
NextEra’s results should also lay to rest any concern regulatory pushback is slowing its deployment of wind, solar and battery storage. The company added 2,345 megawatts of new renewables and storage origination in Q3, boosting backlog north of 20 gigawatts.

All of these projects that can be sited, permitted, financed and built in less than 2 years. And they’re funded at low cost with a combination of institutional partners, utility customers and low-cost green bonds. That locks in costs once power sales agreements are signed. And it’s a formula that continues to fuel reliable annual dividend growth north of 10 percent for both NextEra and its NextEra Energy Partners (NYSE: NEP) affiliate.

Southern Company (NYSE: SO) now sees 2022 earnings "near the top end" of its $3.50 to $3.60 per share guidance range. The utility also reduced by $70 million the projected remaining cost of bringing its two Vogtle nuclear reactors into service by the end of 2023, completing installation of fuel rods at Unit 3 and 97 percent of work at Unit 4.

Southern also reported a 2.2 percent lift in Q3 industrial sales, along with 1.1 percent growth in electricity customers. That’s a pretty good sign the company’s southeastern US service territory is also proving resilient.

Bottom line: These utilities have again affirmed underlying businesses are healthy and meeting long-term earnings and dividend growth guidance. That’s my primary criteria for sticking with them, and it bodes well for the rest of the portfolio as well.
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