Why Units of NextEra Energy Partners Rallied Nearly 25% in April
Units of NextEra Energy Partners (NYSE: NEP) enjoyed a nice bounce-back in April. After tumbling more than 25% in March amid the coronavirus market swoon, the clean energy company rebounded 24.7% in April, according to data provided by S&P Global Market Intelligence. Powering the company's rally -- aside from an overall bounce in the market -- was its solid first-quarter earnings report.
NextEra Energy Partners' operations proved to be immune to the impact the COVID-19 outbreak had on the broader economy. Consequently, the company delivered strong first-quarter results as earnings soared 30% while its cash flow zoomed more than 200%. Powering that growth was the acquisition of a natural gas pipeline system and portfolio of renewable energy assets last year.
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Source Fool.com
