(Reuters) -NextEra Energy ( NEE/PU ) employees realized $45 million in gains from selling company stock in their retirement plan during 2024, reversing heavy losses from the previous two years, the utility disclosed on Thursday.

America's largest renewable power company is among several U.S. energy and utility companies that continue to promote big, concentrated bets on company stock in worker retirement plans.

The strategy is largely out of favor among U.S. companies, which mostly have diversified their retirement portfolios to avoid heavy losses tied to one investment, according to research by Vanguard Group.

NextEra shares accounted for $1.8 billion, or about one-third of the $5.4 billion in total investments in the company's retirement savings plan, the company disclosed in an annual report filed with the U.S. Securities and Exchange Commission.

In 2024, NextEra employees realized gains because the company's total return that year was 21.5%. But in 2023, employees took heavy losses from their stock sales. They realized losses of nearly $162 million that year, NextEra SEC disclosures show. Realized losses from employee stock sales totaled $65.5 million in 2022.

NextEra was not immediately available for comment.