This Supercharged Dividend Stock Is a No-Brainer Buy Right Now
NextEra Energy Partners (NYSE: NEP) is a unicorn among dividend stocks. It offers a well-above-average dividend yield of 4.5% after its recent boost, versus 1.7% for the S&P 500. Meanwhile, it's growing that payout at a blistering pace (15% last year, compared to the 7% median average dividend growth rate for stocks in the S&P 500). With more high-powered dividend growth ahead, it's a no-brainer dividend stock to buy these days.
NextEra Energy Partners recently reported its fourth-quarter and full-year results. CEO John Ketchum summed it up well when he stated in the earnings release, "NextEra Energy Partners had a terrific year of execution in 2022, while delivering on its commitments to unit holders." The CEO pointed out that the company "grew limited partner distributions per unit by approximately 15% year over year and delivered more than 20% year-over-year growth in adjusted EBITDA, highlighting the strength of our operating portfolio."
The company recently declared its latest dividend payment at $0.815 per unit each quarter. That's up 3.5% from last quarter's level and 15% above the prior year's payment.
Source Fool.com
