In the latest trading session, NextEra Energy Partners (NEP) closed at $17.59, marking a +1.21% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.07%. Meanwhile, the Dow lost 0.97%, and the Nasdaq, a tech-heavy index, lost 1.19%.Heading into today, shares of the limited partnership for clean-energy projects had lost 0.52% over the past month, outpacing the Oils-Energy sector's loss of 8.22% and lagging the S&P 500's loss of 0.36% in that time.Investors will b ...

In the latest market close, NextEra Energy Partners (NEP) reached $17.78, with a +1.66% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.1%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq added 1.35%.Prior to today's trading, shares of the limited partnership for clean-energy projects had gained 1.22% over the past month. This has outpaced the Oils-Energy sector's loss of 10.32% and the S&P 500's gain of 0.22% in that time.Analysts and i ...

Company Overview - NextEra Energy Partners (NEP) closed at $17.49, reflecting a -0.68% change from the previous trading day, underperforming compared to the S&P 500's gain of 0.73% [1] - The stock has increased by 4.95% over the past month, contrasting with the Oils-Energy sector's decline of 9.2% and the S&P 500's gain of 0.34% [7] Financial Performance Expectations - Analysts expect NextEra Energy Partners to report earnings of $0.60 per share, indicating a year-over-year growth of 271.43% [2] - The consensus estimate for revenue is projected at $347.33 million, reflecting a 49.71% increase from the same quarter last year [2] - For the entire fiscal year, earnings are expected to be $1.96 per share and revenue at $1.28 billion, showing changes of +476.47% and +2.67% respectively from the previous year [8] Analyst Sentiment and Estimates - Recent revisions to analyst estimates indicate positive sentiment towards NextEra Energy Partners, suggesting optimism regarding the company's business and profitability [3] - The Zacks Consensus EPS estimate has risen by 3.52% over the past month, with NextEra Energy Partners currently holding a Zacks Rank of 3 (Hold) [4] Valuation Metrics - NextEra Energy Partners is currently trading at a Forward P/E ratio of 8.98, significantly lower than the industry average of 24.2, indicating it is trading at a discount compared to its peers [10] Industry Context - NextEra Energy Partners operates within the Alternative Energy - Other industry, which is part of the Oils-Energy sector, currently holding a Zacks Industry Rank of 125, placing it in the top 50% of over 250 industries [5]

Company Performance - NextEra Energy Partners (NEP) closed at $17.65, reflecting a -1.18% change from the previous day, which is less than the S&P 500's daily loss of 0.39% [1] - The stock has increased by 11.42% over the past month, outperforming the Oils-Energy sector's decline of 5.09% and the S&P 500's gain of 3.6% [1] Upcoming Earnings - The upcoming EPS for NextEra Energy Partners is projected at $0.60, indicating a significant increase of 271.43% compared to the same quarter last year [2] - Revenue is expected to reach $347.33 million, representing a 49.71% increase from the year-ago quarter [2] Full Year Projections - For the full year, earnings are projected at $1.96 per share, reflecting a change of +476.47% from the prior year [3] - Revenue for the full year is estimated at $1.28 billion, showing a growth of +2.67% compared to the previous year [3] Analyst Estimates - Recent modifications to analyst estimates for NextEra Energy Partners indicate a positive outlook on the company's business operations and profit generation capabilities [4] - The Zacks Rank system, which incorporates these estimate changes, provides actionable ratings for investors [5] Valuation Metrics - NextEra Energy Partners is currently trading at a Forward P/E ratio of 9.1, which is a discount compared to the industry's average Forward P/E of 24.77 [7] - The Alternative Energy - Other industry, part of the Oils-Energy sector, holds a Zacks Industry Rank of 83, placing it in the top 34% of over 250 industries [7]

Core Viewpoint - NextEra Energy Partners (NEP) is experiencing significant growth in earnings and revenue, with upcoming financial results expected to show substantial year-over-year increases, despite a recent slight decline in stock price compared to broader market indices [1][3][4]. Company Performance - The stock price of NextEra Energy Partners closed at $17.93, reflecting a decrease of 1.05% from the previous trading day, which is lower than the S&P 500's gain of 0.82% [1]. - Over the past month, shares of NextEra Energy Partners have increased by 13.25%, outperforming the Oils-Energy sector, which saw a decline of 2.1%, and the S&P 500, which gained 0.8% [2]. Financial Expectations - Analysts anticipate NextEra Energy Partners will report earnings of $0.60 per share, representing a year-over-year growth of 271.43%. Revenue is expected to reach $347.33 million, indicating a 49.71% increase compared to the same quarter last year [3]. - For the annual period, earnings are projected at $1.41 per share and revenue at $1.28 billion, reflecting increases of 314.71% and 2.67%, respectively, from the previous year [4]. Analyst Estimates and Stock Performance - Recent adjustments to analyst estimates for NextEra Energy Partners are crucial, as positive revisions typically indicate a favorable business outlook [4]. - The Zacks Rank system, which evaluates estimate changes, currently ranks NextEra Energy Partners at 3 (Hold), with a recent decline of 1.57% in the consensus EPS estimate over the past month [6]. Valuation Metrics - NextEra Energy Partners has a Forward P/E ratio of 12.89, which is significantly lower than the industry average of 24.05, suggesting that the company is trading at a discount [7]. - The Alternative Energy - Other industry, part of the Oils-Energy sector, holds a Zacks Industry Rank of 133, placing it in the bottom 48% of over 250 industries [7].

Group 1: Stock Performance - NextEra Energy Partners (NEP) closed at $18.20, reflecting a +1.11% change from the previous day, outperforming the S&P 500's 0.19% loss [1] - The stock has decreased by 2.81% over the past month, underperforming the Oils-Energy sector's gain of 3.07% and the S&P 500's gain of 6.66% [1] Group 2: Earnings Forecast - NextEra Energy Partners is expected to report an EPS of $0.60, representing a 271.43% increase from the same quarter last year [2] - Revenue is anticipated to be $347.33 million, indicating a 49.71% increase from the corresponding quarter of the previous year [2] Group 3: Full Year Estimates - For the full year, earnings are projected at $1.41 per share and revenue at $1.28 billion, showing increases of +314.71% and +2.67% respectively from the prior year [3] - Recent changes to analyst estimates for NextEra Energy Partners reflect short-term business trends, with positive revisions indicating a favorable business outlook [3] Group 4: Valuation Metrics - NextEra Energy Partners has a Forward P/E ratio of 12.8, which is a discount compared to the industry average Forward P/E of 25.23 [6] - The Alternative Energy - Other industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 130, placing it in the bottom 49% of over 250 industries [6] Group 5: Zacks Rank and Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with 1 rated stocks averaging a +25% annual return since 1988 [5] - Currently, NextEra Energy Partners holds a Zacks Rank of 3 (Hold), with a recent 4.26% downward shift in the consensus EPS estimate [5]

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 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]