This Unstoppable Dividend Stock Continues Adding to its Powerful Growth Platform
NextEra Energy Partners (NYSE: NEP) has been unstoppable since its formation in 2014. The clean energy infrastructure company has increased its dividend every quarter, growing it by an eye-popping 320% overall. That has helped power a 234% total return (15.4% annualized) since its formation, vastly outperforming the S&P 500's 144% total return (11.2% annualized).
The company doesn't see anything stopping its dividend from continuing to surge in the coming years. NextEra Energy Partners anticipates growing its payout at a 12% to 15% annual rate through at least 2025. It recently added more power to achieve that goal. That increases its appeal as a great stock for investors to consider owning for the long term.
NextEra Energy Partners recently agreed to acquire additional renewable energy-generating assets from its parent NextEra Energy (NYSE: NEE). It's acquiring a 49% interest in a roughly 1.5-gigawatt (GW) portfolio of wind and solar energy plus storage assets and 100% of the indirect membership interest in about 345 megawatts (MW) of operating wind energy assets.
Source Fool.com
