Company Performance - NextEra Energy Partners (NEP) ended the latest trading session at $17.47, showing no change from the previous close, which lagged behind the S&P 500's daily gain of 0.56% [1] - Over the last month, NEP's shares have decreased by 9.72%, underperforming the Oils-Energy sector's gain of 4.4% and the S&P 500's gain of 3.11% [1] Upcoming Earnings - The upcoming earnings release is anticipated, with expectations for EPS of $0.54, representing a 254.29% increase from the prior-year quarter [2] - Quarterly revenue is projected at $347.33 million, up 49.71% from the year-ago period [2] - For the full year, earnings are estimated at $1.36 per share and revenue at $1.28 billion, reflecting increases of +300% and +2.67% respectively from the previous year [2] Analyst Estimates - Recent modifications to analyst estimates for NEP indicate shifting dynamics in short-term business patterns, with positive revisions reflecting optimism about the company's profitability [3] - The Zacks Consensus EPS estimate has decreased by 6.47% over the past month, and NEP currently holds a Zacks Rank of 3 (Hold) [5] Valuation Metrics - NEP has a Forward P/E ratio of 12.88, which is a discount compared to the industry's average Forward P/E of 24.95 [6] - The Alternative Energy - Other industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 133, placing it in the bottom 48% of over 250 industries [6] Industry Insights - The Zacks Industry Rank evaluates the performance of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Core Viewpoint - NextEra Energy Partners, LP (NEP) has shown strong performance with a 9.2% gain over the past two weeks, outperforming both the Zacks Alternate Energy – Other industry growth of 7.4% and the broader Zacks Oil-Energy sector's rally of 2.5% [1] Group 1: Company Overview - NEP focuses on acquiring, managing, and owning contracted clean energy projects that provide stable long-term cash flows [2] - The firm aims to expand operations through organic growth and selective acquisitions, aligning with current renewable energy and natural gas pipeline projects [6] - NEP has acquired interests in approximately 1,178 MW of long-term contracted renewables and storage from NextEra Energy Resources [6] Group 2: Financial Performance - The Zacks Consensus Estimate for NEP's earnings per unit indicates significant year-over-year growth of 300% for 2024 and 0.35% for 2025 [11] - NEP's board declared a quarterly distribution of 91.75 cents per common unit for Q3, reflecting an annualized increase of nearly 6% from the previous year [13] - NEP units are currently trading at a price-to-earnings ratio of 12.84X, which is lower than the industry average of 26.92X, indicating a potential investment opportunity [14] Group 3: Growth Drivers - NEP benefits from government incentives, declining installation costs, and improving technology, which are expected to enhance its renewable generation capacity [7] - The partnership's total backlog of wind repowering stands at 1.6 GW, with an updated target of 1.9 GW [7] - NEP's focus on executing additional wind repowering opportunities is anticipated to improve operating performance and increase generation from clean sources [8] Group 4: Strategic Initiatives - In December 2023, NEP completed the sale of its Texas natural gas pipeline portfolio for $1.815 billion, reinforcing its commitment to a clean energy transition [9] - The firm aims to achieve Real Zero carbon emissions by 2025, positioning itself as a pure-play investment opportunity in 100% renewable energy [9]

Core Viewpoint - NextEra Energy Partners is facing challenges with its strategy shifts, which have not yielded the expected results, leading to potential changes in its dividend payments starting in January [1][7]. Group 1: Dividend and Growth Strategy - NextEra Energy Partners currently offers a high dividend yield in the mid-teens, with a 6% increase in its payout over the past year [1]. - The company has reduced its dividend growth target from an annual rate of 12%-15% to 5%-8%, aiming for a target of 6% [2]. - Plans to grow dividends at a 6% annual rate through at least 2026 have been removed from the latest earnings report, indicating a shift in strategy [3]. Group 2: Financial Challenges and Adjustments - Rising interest rates have negatively impacted the stock price, making it difficult for the company to issue shares to fund convertible equity portfolio financing (CEPF) buyouts [2]. - NextEra Energy Partners is selling off its natural gas pipeline assets to help finance its CEPF buyouts and renewable energy acquisitions [2]. - The company is evaluating alternatives to address its future CEPF buyouts and cost of capital, suggesting a potential reduction in dividends to retain cash for reinvestment [4][5]. Group 3: Future Outlook - The absence of previous growth expectations in the latest earnings report indicates a more cautious outlook for the company [4]. - NextEra Energy Partners may need to reduce its dividend payout ratio from the mid-90s range to 50%-70% to align with other energy infrastructure companies [5]. - A significant dividend adjustment is anticipated next year, which could disappoint income investors but position the company for sustainable long-term growth in the renewable energy sector [7].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ | --- | --- | --- | --- | |----------------------------------------------------------------------------------------|---------------------------- ...

Financial Data and Key Metrics Changes - Adjusted earnings per share for Q3 2024 increased approximately 10% year-over-year, reflecting solid performance at both Florida Power & Light (FPL) and Energy Resources [6][30] - FPL's earnings per share increased by $0.05 year-over-year, driven by a 9.5% growth in regulatory capital employed [26] - Adjusted EPS for the consolidated results was $1.03 per share, with expectations to deliver results at or near the top end of adjusted EPS expectation ranges for 2024-2027 [32] Business Line Data and Key Metrics Changes - Energy Resources reported adjusted earnings growth of approximately 11% year-over-year, with adjusted EPS increasing by $0.04 [30] - Contributions from new investments increased $0.15 per share year-over-year, primarily due to growth in the renewables portfolio [30] - FPL's capital expenditures were approximately $2 billion for the quarter, with full-year expectations between $8 billion and $8.8 billion [27] Market Data and Key Metrics Changes - FPL's retail sales increased by 1% year-over-year, with a 1.6% increase on a weather-normalized basis [27] - The U.S. data center power demand is expected to increase significantly, adding approximately 460 terawatt hours of new electricity demand at a compound annual growth rate of 22% from 2023 to 2030 [14] - Forecasts predict a tripling in renewables growth over the next seven years compared to the previous seven [21] Company Strategy and Development Direction - The company is focused on capital investments in low-cost solar generation and battery storage, which have saved customers nearly $16 billion since 2001 [15] - The strategy includes a mix of new renewable storage and gas generation to meet growing power demand [16] - The company aims to grow its renewable generation portfolio from 38 gigawatts today to potentially 81 gigawatts by the end of 2027 [22] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of a reliable and resilient power grid, especially in light of increased power demand forecasts [13] - The company is well-positioned to capitalize on the significant demand growth for renewables and storage, with a unique market position and a substantial project pipeline [21][24] - Management expressed confidence in achieving financial results at or near the top end of adjusted EPS expectations for the coming years [32] Other Important Information - The company has added approximately 3 gigawatts to its backlog for the second consecutive quarter, bringing the total backlog to over 24 gigawatts [31] - NextEra Energy Partners declared a quarterly distribution of $0.9175 per common unit, up nearly 6% from a year earlier [33] - The partnership's organic growth opportunities have expanded, increasing the wind repowering target to approximately 1.9 gigawatts through 2026 [34] Q&A Session Summary Question: More details on the framework agreements - Management explained that the framework agreements with Fortune 50 companies provide flexibility in asset allocation and create close partnerships for securing incremental business [38][39] Question: Will the names of the agreements be disclosed? - Management indicated that names may be disclosed alongside the announcement of specific deals, emphasizing that the agreements are with non-technology companies [42] Question: Thoughts on Duane Arnold nuclear plant - Management is evaluating the recommissioning of the Duane Arnold plant, conducting necessary assessments and expressing strong interest from customers [45][46] Question: Confidence in NEP's financial review timeline - Management confirmed that the review of NEP's cost of capital is nearing conclusion, with updates expected in the fourth quarter call [50][51] Question: Insights on SMRs as an asset - Management expressed skepticism about SMRs due to their unproven nature and high costs, prioritizing other generation resources for the time being [58][59]

Company Performance - NextEra Energy Partners (NEP) reported a quarterly loss of $0.43 per share, missing the Zacks Consensus Estimate of $0.51, and down from earnings of $0.57 per share a year ago, representing an earnings surprise of -184.31% [1] - The company posted revenues of $319 million for the quarter ended September 2024, which was 1.88% below the Zacks Consensus Estimate and down from $367 million in the same quarter last year [1] - Over the last four quarters, the company has only surpassed consensus EPS estimates once and has not beaten consensus revenue estimates during this period [1] Stock Performance - Shares of NextEra Energy Partners have declined approximately 17.5% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The current consensus EPS estimate for the upcoming quarter is -$0.01 on revenues of $281.86 million, while for the current fiscal year, it is $2.20 on revenues of $1.28 billion [4] Industry Outlook - The Alternative Energy - Other industry, to which NextEra Energy Partners belongs, is currently ranked in the bottom 20% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, World Kinect (WKC), is expected to report quarterly earnings of $0.62 per share, reflecting a year-over-year increase of 6.9%, with revenues projected at $11.78 billion, down 3.8% from the previous year [5]

Exhibit 99 NextEra Energy Partners, LP Media Line: 561-694-4442 Oct. 23, 2024 FOR IMMEDIATE RELEASE NextEra Energy Partners, LP reports third-quarter 2024 financial results • Declares quarterly distribution of $0.9175 per common unit • Increases wind repowering target to approximately 1.9 gigawatts through 2026, including 225 megawatts of newly announced repowerings • Plans to complete convertible equity portfolio financing and cost of capital review by January 2025 JUNO BEACH, Fla. - NextEra Energy Partner ...

The most recent trading session ended with NextEra Energy Partners (NEP) standing at $25.62, reflecting a -1.31% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 0.75%, while the tech-heavy Nasdaq lost 1.01%. Shares of the limited partnership for clean-energy projects have appreciated by 0.7% over the course of the past month, outperforming the Oils-Energy sector's loss of 4.09% and lagging the S&P 500's gain of 4.31% ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on k ...

The latest trading session saw NextEra Energy Partners (NEP) ending at $27.47, denoting a -0.4% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.4%. On the other hand, the Dow registered a gain of 0.62%, and the technology-centric Nasdaq increased by 0.6%. Heading into today, shares of the limited partnership for clean-energy projects had gained 12.43% over the past month, outpacing the Oils-Energy sector's loss of 1.57% and the S&P 500's gain of 1.71% i ...