With a 2.79% four-year average, NEE is also a solid dividend stock. The company paid a $0.39 quarterly dividend on March 15, 2021. Moreover, the company agreed to acquire four wind farms from Brookfield Renewable Partners L.P. (NYSE:BEP), which will be its biggest acquisition since 2019.
However, investors are now focused primarily on sectors such as finance and manufacturing that are positioned to perform well with an economic recovery. And NEE’s stock fell sharply following its mixed financial results in its fiscal year 2021 first quarter. It has declined by nearly 7% over the past three months. So, we think it’s wise to avoid the stock now because it looks overvalued at its current price level considering its limited growth potential in the near term.
