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NEP NextEra Energy Partners LP

32.05
1.92 (6.37%)
10 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
NextEra Energy Partners LP NYSE:NEP NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  1.92 6.37% 32.05 32.44 30.07 30.25 2,131,453 01:00:00

NextEra Energy Partners Shares Rise 12% After Increasing 3Q Distribution

24/10/2023 4:58pm

Dow Jones News


NextEra Energy Partners (NYSE:NEP)
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From May 2023 to May 2024

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By Ben Glickman

 

Shares of NextEra Energy Partners rose Tuesday after the limited partnership increased its third-quarter distribution and said it would repower some of its wind projects.

The stock was up 12% to $25.08 in morning trading. Shares have fallen 64% this year.

The Juno Beach, Fla.-based clean-energy management company, which is a limited partnership linked to NextEra Energy, said Tuesday morning it would increase its quarterly distribution after third-quarter results.

The company's board declared a quarterly distribution of 86.75 cents, or $3.47 annually, representing an annualized increase of 6% from the previous quarter.

The new payout represents an annual yield of 15.5%, based on Monday's closing price of $22.42.

NextEra Partners said it would repower about 740 megawatts of wind facilities through 2026.

The company reported a profit of $53 million, or 57 cents a unit, compared with $79 million, or 93 cents a unit, a year ago. Analysts polled by FactSet expected third-quarter profit of 44 cents a unit.

 

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 24, 2023 11:43 ET (15:43 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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