FPL Group (FPL)
FPL Group (FPL) produces and distributes a whole lot of electricity (annual revenues top $15 billion). They generate using natural gas, wind, nuclear, oil, and hydro power. FPL Group has two main subsidiaries.
FPL serves over 4.5 million electric customers and ranks number 1 among U.S. electric utilities in terms of energy efficiency programs. I’m not sure if that’s good for shareholders or not.
What IS good for shareholders, at least in my opinion is their way out in front position via FPL Energy, the second main subsidiary. FPL Energy is a major player in the use of clean and renewable fuels, and the NUMBER 1 U.S. generator of wind power and also very big in solar generation. These are not the most important part of revenue or growth at present, but I am confident that they will contribute in a big way in the future.
It’s also worth noting that at a current price of just over $46, FPL Group has a yield of almost 4%. Within the last few years I bought FPL at about $38 and sold in the low $60s range. My reasons for selling had nothing to do with a deteriorating position. I just wanted to simplify up my portfolio. When energy prices start to go crazy again, I’ll give FPL Group another serious look.
BTW, I got my first serious look at FPL thanks to Stephen Leeb. I think he’s got some interesting ideas.