NEP - NEP Shares Tumbling On Analyst Downgrade: What's Going On? | Benzinga
NextEra Energy Partners LP (NYSE: NEP) shares are trading lower by over 15% after several analysts downgraded the stock following the limited partner distribution per unit growth rate revision.
Yesterday, the company revised its limited partner distribution per unit growth rate to 5% to 8% annually through at least 2026, with an expected growth rate of 6%.
NEP now expects the annualized rates of Q3 2023 distribution per common unit to be $3.47, payable in November 2023, and Q4 2023 distribution per common unit to be $3.52, payable in February 2024.
Oppenheimer analysts downgraded the stock to Perform from Outperform.
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