Mizuho lowered the firm’s price target on NextEra Energy Partners to $33 from $40 and keeps a Buy rating on the shares. The analyst says the NextEra Energy Partners financing vehicle has become less important to the NextEra ecosystem, as the high cost of capital has eroded drop-down economics. The firm sees a 50% distribution cut on the horizon, but believes at a 7% yield NextEra Energy Partners is still attractive for income-seeking investors.
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