NextEra Energy’s stock falls after equity unit offering comes a day after stock split announced

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Shares of NextEra Energy Inc. shed 4.2% in premarket trading Wednesday, after the electric company announced an equity offering, a day after it announced a stock split and raised financial expectations. The company said late Tuesday that it plans to sell $2.0 billion worth of equity units for $50 each, with each unit consisting of a contract to buy common stock in the future and a 5% ownership interest in NextEra Energy Capital Holdings debt due in September 2025. On Wednesday, said it agreed to sell $2.0 billion in equity units to BofA Securities and Barclays. The stock had rallied 4.9% on Tuesday, after the company announced late Monday a 4-for-1 stock split, and raised its 2021 adjusted earnings per share guidance on a pre-split basis by 20 cents to $9.60 to $10.15. The stock has rallied 22.1% year to date through Tuesday, while the SPDR Utilities Select Sector ETF has lost 6.9% and the S&P 500 has gained 5.3%.
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