NextEra Shares Fall Amid Push to Move Into Data Centers and Gas

NextEra Energy Inc., the big clean-power developer that’s been pivoting into natural gas generation preferred by President Donald Trump, announced Monday a flurry of plans to develop data centers and expand its fossil-fuel footprint.

Shares dipped as much as 2.6% as investors questioned whether the company could make that switch. Jefferies analysts attributed the drop to weak renewable development and a need to convert data-center announcements into deals and earnings.

“They’ve been top-notch, best-in-class renewable developers,” said Morningstar Inc. analyst Andy Bischof. “Now investors have to get their head around whether that can translate to best-in-class gas ...