NEE Analysis: NextEra Energy Trades Within 3% of Its 52-Week High as AI Data Center Demand Supercharges America's Largest Clean Energy Utility
NextEra Energy (NYSE: NEE) has surged 49% from its 52-week low of $61.72 to trade at $92.18, within touching distance of its $94.94 all-time high. The $192 billion utility giant — parent of Florida Power & Light, the nation's largest electric utility, and NextEra Energy Resources, the world's largest generator of wind and solar energy — is riding a powerful convergence of tailwinds that has transformed the utility sector's growth narrative. The company reported full-year 2025 revenue of $27.5 billion and earnings per share of $3.31, delivering consistent profitability even as it pours record capital into renewable energy infrastructure. With a trailing P/E of 27.9x, NEE commands a steep premium over the utility sector average of roughly 17x — a valuation that reflects Wall Street's conviction that this is not a traditional utility but a secular growth story tied to electrification, AI-driven power demand, and the clean energy transition. But the bull case comes with real tension. NextEra's aggressive capital spending — $24.6 billion in 2025 alone — has pushed free cash flow deeply negative, total debt past $95 billion, and the balance sheet to levels that would alarm investors in any other sector. The question for investors isn't whether NextEra is a great company. It's whether the stock, at nearly 28 times earnings and 68 times EBITDA, already prices in perfection.