NEW YORK (TheStreet) -- Shares of NextEra Energy (NEE - Get Report) closed lower on Friday amid an investigation by the U.S. Federal Energy Commission into the company's NET Midstream unit for allegedly manipulating the natural gas market in January 2012, Reuters reports.
The company is accused of fraudulently trading physical gas to boost the value of its financial positions.
NextEra Energy staff reportedly sold physical basis at Tetco M3 at arbitrarily low prices in January 2012, as well as at Henry hub during April 2014, to benefit a previously acquired large short financial basis position.
This is the latest case in which regulators are focusing on loss leader or leveraged trading strategies, in which traders lose in one market to benefit in another, Reuters noted.
NextEra Energy is a Juno Beach, FL-based electric power company.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of A+.
The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: NEE