This Renewable Energy Stock Continues to Expect High-Powered Dividend Growth
NextEra Energy Partners (NYSE: NEP) delivered terrific results in 2020. The renewable energy producer grew its cash available for distribution (CAFD) by nearly 40% with several needle-moving acquisitions. That enabled the company to boost its dividend by another 15%. The company expects more high-powered growth in the coming years. It seems increasingly likely to meet that expectation following a series of financing moves it made last year to boost its flexibility.
NextEra Energy Partners generated $1.3 billion of adjusted EBITDA last year and $570 million of CAFD, up 14.4% and 39.7%, respectively. The company benefited from new project additions and higher contributions from its existing assets.
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Source Fool.com
