Why NextEra Partners Sank Yet Again Today
Shares of NextEra Partners (NYSE: NEP) sank again today, falling 10% as of 12:46 p.m. ET.
NextEra Partners is the captive "yieldco" for utility NextEra Energy (NYSE: NEE), designed to raise low-cost capital from the public markets to buy renewable energy projects from its parent company and others.
Yet as we're seeing, when interest rates rise and the price of NextEra Partners' stock and debt fall, NextEra's ability to grow can become blocked. That's why the stock garnered yet another analyst downgrade on Monday, after a few last week.
Source Fool.com
