Co-authored by Treading Softly. Pick #1: BGR – Yield 6.0% | --- | --- | --- | --- | |---------------------------|--------------------------|--------------------------------|----------| | as of Mar 28, 2024 \nName | Holdings \nVelght ("//>) | | lght (%) | | EXXON MOBIL CORP | 17.06 | MARATHON PETROLEUM CORP | 4,43 | | SHELL PLC | 10.55 | CANADIAN NATURAL RESOURCES LTD | 4.31 | | CHEVRON CORP | 7.57 | TOTALENERGIES SE | 416 | | BP PLC | 6.69 | HESS CORP | 412 | | CONOCOPHILLIPS | 6.13 | WILLIAMS COMPANIES INC ...

In the latest market close, NextEra Energy Partners (NEP) reached $33.43, with a +1.3% movement compared to the previous day. This change outpaced the S&P 500's 1.19% gain on the day. Meanwhile, the Dow experienced a rise of 0.25%, and the technology-dominated Nasdaq saw an increase of 1.96%. The limited partnership for clean-energy projects's stock has climbed by 9.49% in the past month, exceeding the Oils-Energy sector's loss of 2.58% and the S&P 500's gain of 3.35%. Analysts and investors alike will be k ...

NextEra Energy Partners (NEP) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future. Over the past month, shares of this limited partnership for clean-energy projects have returned +9.1%, compared to the Zacks S&P 500 composite's +5.1% change. During this period, the Zacks Alternative Energy - Other industry, which NextEra Energy Partners falls in, has gained 12.9%. The ...

It has been about a month since the last earnings report for NextEra Energy Partners (NEP) . Shares have added about 16.6% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is NextEra Energy Partners due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. NextEra Energy Partner ...

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. NextEra Energy Partners (NEP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question. NextEra Energy Partners is a member of the Oils-Energy sector. Thi ...

NextEra Energy Partners (NEP) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this limited partnership for clean-energy projects have returned -2.8% over the past month versus the Zacks S&P 500 composite's -4.1% change. The Zacks Alternative Energy - Other industry, to which NextEra Energy Partners belongs, has gained 11.2% over this period. Now the key q ...

FORM 10-Q Details This section provides key administrative and filing information for the Quarterly Report on Form 10-Q for NEXTERA ENERGY PARTNERS, LP - This is a **Quarterly Report (Form 10-Q)** for the period ended March 31, 2024, filed by NEXTERA ENERGY PARTNERS, LP (NEP)[2](index=2&type=chunk) Condensed Consolidated Statements of Income (Loss) (Three Months Ended March 31) | Detail | Value | | :--- | :--- | | Commission File Number | 1-36518 | | IRS Employer Identification Number | 30-0818558 | | State of Incorporation | Delaware | | Trading Symbol | NEP | | Exchange | New York Stock Exchange | | Common Units Outstanding (March 31, 2024) | 93,539,258 | | Filer Status | Large Accelerated Filer | Definitions This section provides a glossary of acronyms and defined terms for clarity and consistency throughout the report - The report provides a glossary of acronyms and defined terms used throughout the document to ensure clarity and consistency in financial and operational discussions[5](index=5&type=chunk)[6](index=6&type=chunk) Table of Contents This section outlines the structure of the 10-Q report, detailing its parts and corresponding page numbers - The table of contents outlines the structure of the 10-Q report, dividing it into Part I (Financial Information) and Part II (Other Information), with specific items and their corresponding page numbers[8](index=8&type=chunk)[9](index=9&type=chunk) Forward-Looking Statements This section highlights forward-looking statements, which involve estimates, assumptions, and uncertainties that could cause actual results to differ materially - This section highlights that the report contains forward-looking statements, which involve estimates, assumptions, and uncertainties that could cause actual results to differ materially from expectations[11](index=11&type=chunk)[12](index=12&type=chunk) - It also lists various performance, contract, acquisition, financial, relationship with NEE, ownership, and taxation risks[15](index=15&type=chunk)[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk)[22](index=22&type=chunk) PART I – FINANCIAL INFORMATION [Item 1. Financial Statements](index=8&type=section&id=Item%201.%20Financial%20Statements) This section presents NEP's unaudited condensed consolidated financial statements, including the statements of income (loss), balance sheets, cash flows, and changes in equity, along with detailed notes explaining significant accounting policies, acquisitions, discontinued operations, derivative instruments, related party transactions, and noncontrolling interests for the three months ended March 31, 2024 and 2023 [Condensed Consolidated Statements of Income (Loss)](index=8&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20INCOME%20(LOSS)) Condensed Consolidated Statements of Income (Loss) (Three Months Ended March 31) | (millions, except per unit amounts) | 2024 | 2023 | | :--- | :--- | :--- | | OPERATING REVENUES | $257 | $245 | | OPERATING EXPENSES | | | | Operations and maintenance | 123 | 146 | | Depreciation and amortization | 136 | 123 | | Taxes other than income taxes and other | 19 | 11 | | Total operating expenses – net | 278 | 280 | | OPERATING LOSS | (21) | (35) | | OTHER INCOME (DEDUCTIONS) | | | | Interest expense | (13) | (206) | | Equity in earnings of equity method investees | 30 | 28 | | Equity in earnings (losses) of non-economic ownership interests | 4 | (8) | | Other – net | 22 | 3 | | Total other income (deductions) – net | 43 | (183) | | INCOME (LOSS) BEFORE INCOME TAXES | 22 | (218) | | INCOME TAX BENEFIT | (13) | (36) | | INCOME (LOSS) FROM CONTINUING OPERATIONS | 35 | (182) | | INCOME FROM DISCONTINUED OPERATIONS, net of tax expense | — | 31 | | NET INCOME (LOSS) | 35 | (151) | | NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 35 | 137 | | NET INCOME (LOSS) ATTRIBUTABLE TO NEP | $70 | $(14) | | Earnings (loss) per common unit attributable to NEP – basic and assuming dilution | $0.75 | $(0.17) | - NEP's net income attributable to NEP significantly improved to **$70 million** in Q1 2024 from a net loss of **$14 million** in Q1 2023, driven by a substantial reduction in interest expense and improved operating revenues[25](index=25&type=chunk) [Condensed Consolidated Balance Sheets](index=10&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) Condensed Consolidated Balance Sheets (March 31, 2024 vs. December 31, 2023) | (millions) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **ASSETS** | | | | Total current assets | $2,183 | $2,216 | | Property, plant and equipment – net | 14,732 | 14,837 | | Intangible assets – PPAs – net | 1,945 | 1,987 | | Goodwill | 833 | 833 | | Investments in equity method investees | 1,840 | 1,853 | | Total other assets | 20,153 | 20,295 | | **TOTAL ASSETS** | **$22,336** | **$22,511** | | **LIABILITIES AND EQUITY** | | | | Total current liabilities | $1,604 | $1,671 | | Long-term debt | 4,942 | 4,941 | | Intangible liabilities – PPAs – net | 1,186 | 1,210 | | Total other liabilities and deferred credits | 6,754 | 6,783 | | **TOTAL LIABILITIES** | **8,358** | **8,454** | | Common units | 3,564 | 3,576 | | Noncontrolling interests | 10,421 | 10,488 | | **TOTAL EQUITY** | **13,978** | **14,057** | | **TOTAL LIABILITIES AND EQUITY** | **$22,336** | **$22,511** | - Total assets slightly decreased from **$22,511 million** at December 31, 2023, to **$22,336 million** at March 31, 2024, primarily due to a reduction in property, plant and equipment – net[31](index=31&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) Condensed Consolidated Statements of Cash Flows (Three Months Ended March 31) | (millions) | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $78 | $82 | | Net cash provided by investing activities | 42 | 199 | | Net cash used in financing activities | (113) | (276) | | NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 7 | 5 | | CASH, CASH EQUIVALENTS AND RESTRICTED CASH – END OF PERIOD | $301 | $289 | - Net cash provided by operating activities decreased slightly from **$82 million** in Q1 2023 to **$78 million** in Q1 2024[34](index=34&type=chunk) - Net cash provided by investing activities saw a significant decrease from **$199 million** to **$42 million**, while net cash used in financing activities improved from **$(276) million** to **$(113) million**[34](index=34&type=chunk) [Condensed Consolidated Statements of Changes in Equity](index=13&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20CHANGES%20IN%20EQUITY) Condensed Consolidated Statements of Changes in Equity (Three Months Ended March 31, 2024) | (millions) | Common Units (Units) | Common Units (Amount) | Accumulated Other Comprehensive Loss | Noncontrolling Interests | Total Equity | | :--- | :--- | :--- | :--- | :--- | :--- | | Balances, December 31, 2023 | 93.4 | $3,576 | $(7) | $10,488 | $14,057 | | Net income (loss) | — | 70 | — | (35) | 35 | | Distributions to unitholders | — | (82) | — | — | (82) | | Balances, March 31, 2024 | 93.5 | $3,564 | $(7) | $10,421 | $13,978 | - Total equity decreased from **$14,057 million** at December 31, 2023, to **$13,978 million** at March 31, 2024, primarily due to distributions to unitholders and noncontrolling interests, partly offset by net income[37](index=37&type=chunk) - Distributions per common unit were **$0.8800** for the three months ended March 31, 2024, compared to **$0.8125** for the same period in 2023[37](index=37&type=chunk)[39](index=39&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=15&type=section&id=NOTES%20TO%20CONDENSED%20CONSOLIDATED%

Investors are getting more comfortable with NextEra Energy Partners' long-term cash flow plans.Shares of renewable energy finance company NextEra Energy Partners (NEP 4.77%) jumped as much as 8.8% in trading on Tuesday after reporting first-quarter 2024 financial results. Shares were up 7.5% at 2:30 p.m. ET and holding steady gains for the day.Delivering against low expectationsNextEra Energy Partners investors have been expecting the worst as interest rates rise and the company must maneuver around refinan ...

NextEra Energy Partners, LP (NEP) recorded first-quarter 2024 operating earnings of 75 cents per unit, which surpassed the Zacks Consensus Estimate of 12 cents by 525%. In the year-ago quarter, the firm reported a loss of 17 cents per unit.RevenuesThe firm’s operating revenues of $257 million missed the Zacks Consensus Estimate of $346 million by 25.7%. The figure, however, increased 4.9% from $245 million registered in the prior-year period. Highlights of the ReleaseTotal operating expenses were $278 milli ...

NextEra Energy Partners (NEP) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 525%. A quarter ago, it was expected that this limited partnership for clean-energy projects would post earnings of $0.03 per share when it actually produced a loss of $0.35, delivering a surprise of -1,266.67%. ...