Raising Fair Value Estimate on NextEra's Proposal to Acquire Remaining Oncor Interest
We are increasing our fair value estimate by $1 per share after NextEra Energy announced plans to acquire Texas Transmission Holdings' 20% indirect ownership of Oncor for about $2.4 billion. This would give NextEra full ownership of Oncor with a total enterprise value near $18.7 billion. We previously increased our fair value estimate by $4 per share based on NextEra's plan to acquire an 80% ownership stake.NextEra Energy also reported third-quarter operating earnings of $1.74 per share, up fro...
NextEra Energy is a holding company, engaged in electric power and energy infrastructure. The company has two principal businesses, Florida Power & Light Company (FPL) and NextEra Energy Resources, LLC (NEER). FPL is a rate-regulated electric utility engaged primarily in the generation, transmission, distribution and sale of electric energy in Florida. FPL provides service to its electric customers through a transmission and distribution system that links its generation facilities to its customers. NEER, through its subsidiaries, owns, develops, constructs, manages and operates electric generation facilities in wholesale energy markets primarily in the United States and Canada.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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