NextEra Energy Partners, LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy, Inc. (NYSE: NEE), a leading clean energy company, to own, operate and acquire contracted clean energy projects with stable, long-term cash flows. Headquartered in Juno Beach, Fla., NextEra Energy Partners owns interests in wind and solar projects in North America. These renewable energy projects are fully contracted, use industry-leading technology and are located in regions that are favorable for generating energy from the wind and sun. June 27, 2014
NextEra Energy and NextEra Energy Partners, LP announce pricing of initial public offering of NextEra Energy Partners, LP
http://seekingalpha.com/article/2289193-ipo-preview-nextera-energy-partners-lp NEP is a wind/solar 'carve-out' from NextEra Energy (NEE). NEE is an electric power company with a $43.6 billion market cap.
For the year ending June '15 NEP is projecting a 3.75% yield at the price range mid-point of $20. The parent's yield is 2.9%.
The projected annual pay-out growth is 12-15% over the next three years.
http://stockcharts.com/h-sc/ui?s=NEP&p=D&b=5&g=0&id=p83296284835