Why NextEra Energy Partners Stock Popped 8.8% Today

Motley Fool04-24

Cash available for distribution was up slightly to $164 million in the quarter. Buyouts of projects that are required in 2024 and 2025 are on track. Management expects to keep the $3.73...

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class=\"meta\">\n\n\n2024-04-24 03:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2024/04/23/why-nextera-energy-partners-stock-popped-88-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cash available for distribution was up slightly to $164 million in the quarter. \n\n\n\n\n\n\n\nBuyouts of projects that are required in 2024 and 2025 are on track.\n\n\n\n\n\n\n\nManagement expects to keep the $3.73...</p>\n\n<a href=\"https://www.fool.com/investing/2024/04/23/why-nextera-energy-partners-stock-popped-88-today/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BJTD4N35.SGD","symbol_name":"Neuberger Berman US Long Short Equity A1  Acc 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Partners的股票今天上涨了8.8%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NEE":1},"content_text":"Cash available for distribution was up slightly to $164 million in the quarter. \n\n\n\n\n\n\n\nBuyouts of projects that are required in 2024 and 2025 are on track.\n\n\n\n\n\n\n\nManagement expects to keep the $3.73 dividend run rate by the end of the year intact.\n\nShares of renewable energy finance company NextEra Energy Partners (NEP 5.33%) 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 refinancing some projects. But in the first quarter, the company reported revenue of $257 million and funds from continuing operations of $0.75 per share. Analysts were expecting just $0.12 in funds from operations.Funds available for distribution increased from $156 million a year ago to $164 million, and management reiterated their guidance of $730 million to $820 million in cash available for distribution in 2024. That will also enable a dividend run rate of $3.73 by the end of the year, with a targeted growth rate of 6% through at least 2026, similar to past guidance numbers.Closer to stabilityEach quarter that passes, NextEra Energy Partners provides more answers on how they will finance the business long term and generate enough cash flow to pay out its dividend. This quarter, the company said it has a path to refinance some of its subsidiaries, and that will provide more certainty around cash flow and debt.Repowering is also taking place, which will improve the performance of some existing assets in the system. I think all this combined puts the company in a solid position to improve cash flow long term. However, it may be a rocky ride as financing deals play out. Today, that volatility was on the investors' side.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429141458"}