NextEra Energy Partners, LP (NEP) experienced a significant decline in its stock value, plummeting by 29.62% during Tuesday morning's trading session. This drop followed the announcement from XPLR Infrastructure, a NEP affiliate, that it would be suspending its dividend indefinitely.
Currently, the stock has decreased by $4.68, with the price settling at $11.12. It has seen fluctuations today, moving between $10.69 and $12.65 on the New York Stock Exchange. Notably, the stock's 52-week range spans from $10.69 to $35.15, bringing it close to its annual low point. Trading volume has dramatically increased, surpassing 10 million shares, well above the typical 2 million, reflecting heightened investor activity.
This steep decline represents a considerable disadvantage for investors who had previously depended on NEP's dividend disbursements.
