This high-flying sector is up 10% in the third quarter. How to play it

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This high-flying sector is up 10% in the third quarter. How to play it

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to provide 860 megawatts to data centers, NextEra CEO John Ketchum said on a July 24 earnings call. UBS isn’t alone in recommending NextEra Energy. Sixteen of the 23 analysts covering the stock rate it a buy or strong buy, according to LSEG, but consensus price targets see only about 3% upside from current levels. Dobson and his team dropped Vistra , which provides power in Texas, from the firm’s “top picks” list, although it continues to be labeled “most preferred.” Shares of Vistra have rocketed nearly 123% in 2024, but they’re about flat in the third quarter. The company offers a modest dividend yield of 1%. “As an independent power producer, VST has fewer defensive attributes relative to other regulated utilities in the sector,” UBS noted in its report. Independent power producers aren’t public utilities, so they are less regulated. Rather, they generate power to sell to other customers, including other utilities and end users. Nevertheless, the stock is highly favored on Wall Street, with roughly 92% of the analysts covering Vistra rating it a buy or strong buy, according to LSEG. Analyst consensus price targets are calling for nearly 29% upside from current prices.

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