NEP - Why NextEra Energy Partners Sank Today
2024-05-23 16:21:42 ET
Shares of NextEra Energy Partners (NYSE: NEP) were plunging today, down 8.1% as of 2:45 p.m. ET. The company, which is a renewable energy master limited partnership , buys and holds cash-flowing solar, wind, and geothermal projects under long-term power purchase agreements (PPAs), then pays out most cash flow as distributions to unitholders.
In recent days, NextEra has been caught up in the bullish sentiment for renewable energy stocks as potential winners from AI data center-fueled electricity demand.
However, one Wall Street analyst threw cold water on that thesis on Thursday.
For further details see:
Why NextEra Energy Partners Sank Today