As previously reported, Evercore ISI analyst Greg Gordon upgraded CenterPoint Energy (CNP), DTE Energy (DTE) and NiSource (NI), all to Outperform from In Line, and upgraded Pinnacle West (PNW) to In Line from Underperform as he rolled out his 2022 EPS forecasts, updated his price targets and rebalanced his ratings in the Power and Utilities space. Additionally, Gordon downgraded CMS Energy (CMS) and NextEra Energy (NEE), both to In Line from Outperform, and cut his ratings for Eversource (ES) and WEC Energy (WEC) to Underperform from In Line. Regulated utility stocks now look "fully priced to expensive," said Gordon, who is "consciously tilting to value over quality on the margin" as he makes his stock selections in the space.

Continues to expect to grow its dividends per share at a roughly 10% rate per year through at least 2026, off a 2024 base.

Reports Q1 revenue $5.73B, consensus $6.05B. "NextEra Energy delivered strong Q1 results, growing adjusted EPS by approximately 8.3% year-over-year," said CEO John Ketchum. "Both FPL and NextEra Energy Resources delivered solid financial and operating performances to start off the year. FPL placed into service 1,640 megawatts of new, cost-effective solar, while NextEra Energy Resources added approximately 2,765 megawatts of new renewables and storage to its backlog, marking its second-best origination quarter ever and its best quarter for both solar and storage origination. Our two businesses are well positioned to meet future power demand with renewables, storage and transmission, while leveraging our combination of enterprise-wide scale, decades of experience and investment in technology to drive long-term value for customers and shareholders. We will be disappointed if we are not able to deliver financial results at or near the top of our adjusted EPS expectations ranges in each year through 2026, while maintaining our strong balance sheet and credit ratings."