Why NextEra Partners Rallied Today
Shares of renewable energy yieldco NextEra Partners (NYSE: NEP) were up as much as 7.5% in Tuesday trading before settling into a 5.1% gain on the day.
Over the course of the year, NextEra was hammered by rising interest rates, which precipitated the company's September announcement that it would lower its dividend growth in the future.
After that, NextEra's stock plunged to levels that made equity sales to buy more renewable energy projects untenable. However, shares have bounced back somewhat as long-term interest rates have come off their highs and the company reported solid earnings.
Source Fool.com
