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Why I Just Bought More of This Beaten-Down Ultra-High-Yielding Stock

TheMotleyFool 
0 0 21.10.23
Why I Just Bought More of This Beaten-Down Ultra-High-Yielding Stock: https://g.foolcdn.com/editorial/images/751709/a-person-looking-at-a-red-stock-chart-on-a-tablet.jpg
 

NextEra Energy Partners (NYSE: NEP) has gotten eviscerated in recent weeks. Shares of the renewable-energy producer crashed more than 70% from their 52-week high, with the sell-off accelerating after the company stomped on the brakes by slashing its dividend-growth forecast. That decline pushed its dividend yield into the mid-teens. 

I think the sell-off is a massive overreaction. That's why I recently bought more shares. Here's why I believe the company's decision to slow down makes sense.

NextEra Energy Partners has been a dividend-growth juggernaut since leading utility NextEra Energy (NYSE: NEE) formed the company in 2014:

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Source Fool.com

Northeast Elec.dev. Stock

€0.017
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