NextEra Energy Expands into Shale with $1.3B Caliber Acquisition
NEE sits 41% above its 52-week low of $63.88.
Summary
NextEra Energy announced a new strategic move, acquiring oil and gas firm Caliber Resource Partners for $1.3 billion and forming a joint venture with Quantum Capital to manage U.S. shale assets. This represents a material investment and a diversification for the utility and renewable energy giant. The company also declared a routine quarterly dividend of $0.6232 per share. This news follows the extensively covered definitive agreement to acquire Dominion Energy for $67 billion, which was announced and detailed in multiple filings and news items from May 18-20.
At the time of this announcement, NEE was trading at $90.19 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $187B. The 52-week trading range was $63.88 to $98.75. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Wiseek News.