Why NextEra Energy Partners Stock Is Diving Today?
Portfolio Pulse from Lekha Gupta
NextEra Energy Partners LP (NEP) shares dropped by around 18% after the company revised its limited partner distribution per unit growth rate to 5% to 8% annually through at least 2026, with an expected growth rate of 6%. The company doesn't expect to require growth equity to meet its revised growth expectations until 2027. NEP also revised its year-end run-rate expectations for adjusted EBITDA and CAFD. The company's shares are down 17.8% at $38.54.

September 27, 2023 | 2:17 pm
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NextEra Energy Partners LP (NEP) revised its growth rate and year-end run-rate expectations, causing its shares to drop by 18%.
The company's decision to revise its growth rate and year-end run-rate expectations has led to a decrease in its share price. This indicates that investors may have reacted negatively to the news, leading to a sell-off of the company's shares.
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