With a very strong balance sheet, this company looks poised for a solid second half of 2020. NextEra Energy Inc. (NYSE: NEE) consists of two main business segments: the Florida Power & Light (FPL) regulated utility, and NextEra Energy Resources, a deregulated generator of predominantly wind, natural gas, nuclear and solar powered assets in North America. The company also holds a 65.1% share in the yieldco NextEra Energy Partners.
FPL announced last summer a groundbreaking “30-by-30” plan to install more than 30 million solar panels by 2030 and make the state of Florida a world leader in the production of solar energy. It and NextEra Energy Resources are already the world’s largest producers of renewable energy from the wind and sun. When this plan is completed, FPL expects to be the largest utility owner and operator of solar in America.
Investors receive a very safe 2.13% dividend. NextEra Energy closed Tuesday at $262.55, above the $261.40 consensus estimate.
This telecommunications company once ruled the cell phone arena, until the advent of the smartphone in 2007. Nokia Corp. (NYSE: NOK) owns two main businesses: 1) Nokia Networks, a network infrastructure equipment supplier to global wireless and wireline operators, and 2) Technologies, its patent/IPR licensing activities.
Last year, Nokia, NTT Docomo and Omron agreed to conduct joint field trials using 5G at their plants and other production sites. As part of the trial, Nokia will provide the enabling 5G technology and Omron the factory automation equipment, while NTT Docomo will run the 5G trial.
The trial follows the increasing demand for wireless communications at manufacturing sites driven by the need for stable connectivity between Internet of Things devices. As background noise from machines and the movement of people have the potential to interfere with wireless communications, the trial will aim to verify the reliability and stability of 5G technology deployed by conducting radio wave measurements and transmission experiments.
The $4.74 consensus target is above the latest Nokia stock closing price of $4.32 a share.
This top steel company could continue to do very well if the economy sees some strength this year and nonresidential construction grows. Nucor Corp. (NYSE: NUE) is one of North America’s largest steel producers, with almost 27 million tons of finished steel capacity at 23 mini-mills throughout the United States. The company’s downstream steel products business includes rebar fabrication, steel joists/deck, cold finished bars, fasteners, building systems and wire mesh. Nucor also has 5 million tons of scrap processing capacity.
Nucor has always kept a very conservative balance sheet and is poised for slow but steady growth next year and beyond, especially if a huge infrastructure build-out becomes a reality. In addition, global weather catastrophes have also helped continue to drive the need for steel products.
Nucor stock investors receive a 3.92% dividend. The $61.00 consensus price target is well above Tuesday’s close at $41.06.
UBS feels these 10 stocks in a broad spectrum of sectors could do very well with a Biden victory. Despite the progressive rhetoric, it’s a pretty good bet that a more moderate Democrat like the former vice president would tend to slide toward the center after the election, as almost all politicians regardless of party tend to do. Plus at this juncture, the polls have him leading, so a win would not be the surprise the Trump victory over Clinton was in 2016.
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