Why NextEra Energy Partners Stock Surged 29% in December
NextEra Energy Partners (NYSE: NEP) stock ended 2023 with a steep loss of 56.6%, but it could have lost investors a lot more money had it not rebounded in the last month of 2023. The renewable energy stock surged 29.2% in December, according to data provided by S&P Global Market Intelligence.
A massive macroeconomic development lifted hopes for investors in NextEra Energy Partners, and if things play out as expected, 2024 could be a solid recovery year for the stock.
NextEra Energy Partners stock cratered when in late September, management slashed its annual dividend growth targets through 2026 by half to only 5% to 8% with an annual target of 6%. Until then, the company appeared to be going strong, acquiring renewable assets from its parent company, NextEra Energy, and third parties and generating steady, contracted cash flows from them to grow dividends.
Source Fool.com
