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By Steven Halpern, TheStockAdvisors.com |
Jan 11, 2010 |
 Vita Nelson is an expert on dividend reinvestment plans. While she strongly recommends portfolio diversification, the editor of The MoneyPaper looks to FPL (NYSE: FPL) as a top pick for 2010.
"We make a point of recommending that people don't pin their hopes on just one stock (which might underachieve in the short-run). "Nevertheless, as a top pick for the comin year, I like FPL Group is the parent of Florida Power & Light, a utility that engages in the generation, transmission, and distribution of electricity to 4.5 million customers in a 27,650 square mile area of eastern and southern Florida. "Its NextEra Energy Resources subsidiary is a non-regulated power generator that produces electricity from nuclear, natural gas, solar, and wind generation. "It owns 48 wind farms in 15 states producing 4,100 megawatts and could double that output within the next four years. "The company is expected to earn about $4.15 per share this year and $4.57 in 2010, compared with $3.84 in 2008. "The dividend has been increased for 15 consecutive years and the annual payout now stands at $1.90 per share, for a yield of about 3.4%."
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