Nextera Energy Partners boosts dividend by 3.3%

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Nextera Energy Partners ($NYSE:NEP), LP , a clean energy company, today announced that its Board of Directors has declared a quarterly cash dividend of $0.7875 per common unit, a 3.3% increase from the prior quarter’s dividend of $0.7625 per common unit. The dividend is payable on November 14, 2020 to all common unitholders of record as of the close of business on November 4, 2020. The ex-dividend date is November 3, 2020. Nextera Energy Partners is a leading provider of clean energy solutions. The company owns and operates a diversified portfolio of clean energy projects across the United States, including wind and solar power plants. Nextera Energy Partners is committed to delivering long-term value to its shareholders.

The company’s dividend growth strategy is designed to increase cash flow per unit and provide shareholders with a sustainable and growing income stream. Nextera Energy Partners has a strong track record of delivering on its promises. Nextera Energy Partners is well positioned to continue delivering strong results in the future. The company’s diversified portfolio of clean energy assets provides a hedged and stable cash flow profile, and its disciplined approach to capital allocation and dividend growth provides a clear path for continued value creation for shareholders.

Dividends

Nextera Energy Partners’ dividend yields from 2020 to 2022 are 4.0%, 3.37%, 3.71%, thus three-year average dividend yield is 3.69%. If you are looking for dividend stocks, Nextera Energy Partners could be a good option.

Stock Price

Nextera Energy Partners, a subsidiary of NextEra Energy, is one of the largest renewable energy companies in the world. The company owns and operates a portfolio of wind and solar projects in the United States, Canada, and Mexico. Nextera Energy Partners has announced a 3.3% increase in its quarterly dividend. This is the fourth consecutive year that the company has increased its dividend.

The company’s stock price has been on the rise in recent years, as investors have become more interested in renewable energy. Nextera Energy Partners is a leader in the renewable energy industry, and its dividend increase is just one more example of the company’s commitment to shareholder value.

VI Analysis

The company’s fundamentals reflect its long term potential. However, according to the VI Risk Rating, NEXTERA ENERGY PARTNERS is a medium risk investment in terms of financial and business aspects. The VI App has detected 2 risk warnings in income sheet, balance sheet.

VI Peers

The company’s main competitors are NextEra Energy Inc, Brookfield Renewable Partners LP, and Clearway Energy Inc.

– NextEra Energy Inc ($NYSE:NEE)

NextEra Energy Inc. is a leading clean energy company with consolidated revenues of over $17 billion, operations in 27 states, and more than 43,000 megawatts of generating capacity. NextEra Energy‘s principal subsidiaries are Florida Power & Light Company, which serves more than 10 million customer accounts in Florida, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world’s largest generator of renewable energy from the wind and sun.

– Brookfield Renewable Partners LP ($TSX:BEP.UN)

Brookfield Renewable Partners LP is a renewable energy company with a portfolio of hydroelectric, wind, and solar assets. The company has a market cap of 10.53B and a ROE of 15.58%. Brookfield Renewable Partners LP is focused on generating long-term shareholder value by investing in renewable energy projects around the world.

– Clearway Energy Inc ($NYSE:CWEN.A)

Clearway Energy Inc is a leading provider of clean energy solutions in the United States. The company has a market cap of 3.7 billion as of 2022 and a return on equity of 47.1%. Clearway Energy Inc is engaged in the development, construction, ownership, and operation of wind, solar, and thermal projects. The company owns and operates a fleet of over 4,000 megawatts of clean energy projects across the United States. Clearway Energy Inc has a strong commitment to environmental sustainability and is a proud supporter of the transition to a clean energy future.

Summary

Nextera Energy Partners is a yieldco subsidiary of NextEra Energy, one of the largest renewable energy companies in the world. Nextera Energy Partners owns and operates a portfolio of clean energy assets, including wind and solar farms, in the United States. The company has a strong track record of dividend growth, and its dividend yield is currently around 4%.

Investors seeking exposure to the renewable energy sector may want to consider Nextera Energy Partners as a potential investment. The company offers a high yield and a diversified portfolio of clean energy assets.