#4 - NextEra Energy Products (NYSE:NEP)
The energy sector was a clear winner in 2023. And one of the intriguing questions that investors are wrestling with in 2023 is how much is left in the tank. With NextEra Energy Products (NYSE: NEP) investors can hedge their bets.
As its name implies, NextEra Energy has one of the largest clean energy portfolios. But the company also has approximately 727 miles of natural gas pipelines. This is increasing the company’s free cash flow (FCF) in 2023 and beyond. And the company says it plans to use a healthy part of that FCF to increase the dividend which already has a healthy 4.43% yield.
The company will deliver record EPS for the full year 2022. And the company recently slashed its forecast for the coming year. That is likely one reason short interest in the stock is up in the last month. But if oil prices rise as expected, it would be bullish for the company’s revenue and earnings.
About NextEra Energy Partners
NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.
- Current Price
- $16.37
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 10 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $26.69 (63.0% Upside)
