This Clean Energy Stock Fuels Up Its High-Octane Dividend Growth Plan

NextEra Energy Partners (NYSE: NEP) has one of the boldest dividend growth strategies in the energy sector. The clean energy-focused company currently plans to increase its dividend at a 12% to 15% annual rate through 2024. That's a fast pace, considering the company's current yield of 3.8% is nearly double that of the average stock in the S&P 500. The company offers investors a high yield and high growth rate.

Delivering on its promised dividend growth recently became even more likely. That's after NextEra Energy Partners agreed to acquire Meade Pipeline from a joint venture owned by several companies, including natural gas driller Cabot Oil & Gas (NYSE: COG). That deal should give the company all the fuel it needs to meet its growth objectives until 2021.

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