Is NextEra Energy Partners Stock a Buy?
If you're searching for income-producing stocks, NextEra Energy Partners (NYSE: NEP) and its 11% dividend yield is an alluring choice. The renewable energy company provides visibility into future growth, but that can be a drawback when expectations suddenly shift, as they did in September last year.
The company is feeling the impact of higher interest rates and has taken steps to bolster its financial position. With the stock down 45% from its 52-week high, NextEra Energy Partners presents an intriguing opportunity for patient investors today.
NextEra Energy Partners is a limited partnership formed by its parent company, NextEra Energy (NYSE: NEE), in 2014. NextEra Energy is one of the world's largest producers of wind and solar energy, and it created a master limited partnership (MLP) in the form of NextEra Energy Partners to give investors a way to invest directly in renewables.
Source Fool.com
