JPMorgan says three distinct investors types will find something to like in NextEra Energy Partners: energy industry investors, income hunters and those focused on environmental factors.
"We believe the stock should appeal to a broad array of yield, energy and ESG investors," analyst Mark Strouse said in a note Friday.
NEP provides investors access to downstream ownership of renewable projects, offering high-quality cash flows and industry-leading dividend growth, supported by the company's strong relationship with NextEra Energy ," Strouse wrote.
NEP YTD mountain NextEra Energy Partners NextEra Energy Partners is a limited partnership formed by NextEra Energy.
NEP's access to NextEra Energy subsidiary NextEra Energy Resources is also bullish because the latter is "best in class developer, owner, and operator of renewable assets," Strouse said.