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NextEra Energy Partners (NEP) will raise its quarterly distribution by 3.7 percent to $0.42 per unit in the second quarter of 2018. Last quarter the distribution was raised from $0.3925 to $0.405 per unit.

The new distribution yield for NEP is 3.9% and 2018 marks the fourth consecutive year of distribution increases by the MLP. Last year the total distribution was hiked by 14.9 percent.

Nextera Energy Partners, LP is a limited partnership formed formed by NextEra Energy, Inc. ( NEE)  to acquire, manage and own contracted clean energy projects. Headquartered in Juno Beach, Florida, NextEra Energy Partners owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas.