Catalyst Watch: This Beaten-Down, High-Yield Dividend Stock Is Working on a Long-Term Solution to Its Biggest Issue [Yahoo! Finance]
NextEra Energy Partners, LP Common Units representing limited partner interests (NEP)
NASDAQ:AMEX Investor Relations:
nexteraenergypartners.com
Company Research
Source: Yahoo! Finance
nearly 370% since it became public in 2014, growing by a double-digit annual rate until last year. Powering the surging payout was a steady diet of acquisitions largely funded by convertible equity portfolio financing (CEPFs) arranged by several well-known institutional investors. The company hoped its rising stock price would enable it to fund the buyouts of those CEPFs as they matured. Instead, surging interest rates (and concerns about its CEPF obligations) caused shares to plunge roughly two-thirds from their peak. That has forced NextEra Energy Partners to shift gears so it can fund its upcoming CEPF buyouts while still growing the dividend (albeit at a more moderate mid-single-digit annual pace). Making progress on maturities through 2025 NextEra Energy Partners revealed its strategy to address the nearest-term CEPF maturities last May. It's becoming a pure-play renewable energy company by selling its natural gas pipeline assets in phases. It planned to sell its STX Midstr
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NEP
News
- NextEra Energy Partners announces organizational changes [Yahoo! Finance]Yahoo! Finance
- NextEra Energy Partners announces organizational changesPR Newswire
- Is Trending Stock NextEra Energy Partners, LP (NEP) a Buy Now? [Yahoo! Finance]Yahoo! Finance
- These 3 High-Yield Dividend Stocks Are Set to Soar in 2024 and Beyond [Yahoo! Finance]Yahoo! Finance
- NextEra Energy Partners, LP (NYSE:NEP) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
NEP
Earnings
- 4/24/24 - Beat
NEP
Sec Filings
- 5/9/24 - Form 3
- 5/6/24 - Form 8-K
- 4/23/24 - Form 10-Q
- NEP's page on the SEC website