NextEra Energy Partners to buy Meade Pipeline in a $1.37 billion deal [MarketWatch]
NextEra Energy Partners, LP Common Units representing limited partner interests (NEP)
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Source: MarketWatch
NextEra Energy Partners to buy Meade Pipeline in a $1.37 billion deal NextEra Energy Partners L.P. NEP, +0.58% announced Monday a deal to buy Meade Pipeline Co. LLC in a deal valued at $1.37 billion. The deal includes about $90 million in future capital contributions through 2022. Meade Pipeline owns a 39.2% interest in Central Penn Line, which is a 185-mile intrastate natural gas pipeline that provides the Marcellus natural gas producing region access to the mid-Atlantic and Southeastern regions of the U.S. "Meade Pipeline is a very attractive acquisition for NextEra Energy Partners, and is expected to yield a double-digit return to NextEra Energy Partners' limited partner unitholders and generate a cash available for distribution yield of roughly 14%," said Chief Executive Jim Robo. The stock, which is still inactive in premarket trading, has gained 8.0% over the past 12 months, while the S&P 500 SPX, -0.53% has tacked on 1.6%.
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- NextEra Energy Partners, LP (NYSE:NEP) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- This Ultra-High-Yield Dividend Stock Continues to Grow Despite its Challenges [Yahoo! Finance]Yahoo! Finance
- NextEra Energy Partners, LP (NYSE: NEP) had its "market perform" rating re-affirmed by analysts at Oppenheimer Holdings Inc..MarketBeat
- Why NextEra Energy Partners Stock Popped 8.8% Today [Yahoo! Finance]Yahoo! Finance
NEP
Earnings
- 4/24/24 - Beat
NEP
Sec Filings
- 4/23/24 - Form 10-Q
- 4/23/24 - Form 8-K
- 3/5/24 - Form ARS
- NEP's page on the SEC website