Company Quick10K Filing
Nextera Energy Partners
10-Q 2020-03-31 Filed 2020-04-23
10-K 2019-12-31 Filed 2020-02-18
10-Q 2019-09-30 Filed 2019-10-23
10-Q 2019-06-30 Filed 2019-07-24
10-Q 2019-03-31 Filed 2019-04-23
10-K 2018-12-31 Filed 2019-02-19
10-Q 2018-09-30 Filed 2018-10-23
10-Q 2018-06-30 Filed 2018-07-25
10-Q 2018-03-31 Filed 2018-04-24
10-K 2017-12-31 Filed 2018-02-21
10-Q 2017-09-30 Filed 2017-10-27
10-Q 2017-06-30 Filed 2017-07-26
10-Q 2017-03-31 Filed 2017-04-21
10-K 2016-12-31 Filed 2017-02-23
10-Q 2016-09-30 Filed 2016-10-31
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-04-29
10-K 2015-12-31 Filed 2016-02-19
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-03
10-Q 2015-03-31 Filed 2015-05-01
10-K 2014-12-31 Filed 2015-02-20
10-Q 2014-09-30 Filed 2014-11-12
10-Q 2014-06-30 Filed 2014-08-01
8-K 2020-04-22 Earnings, Exhibits
8-K 2020-01-24 Earnings, Exhibits
8-K 2019-12-04 Enter Agreement, Off-BS Arrangement, Sale of Shares, Shareholder Rights, Other Events, Exhibits
8-K 2019-11-12 Enter Agreement, Off-BS Arrangement, Sale of Shares, Shareholder Rights, Amend Bylaw, Other Events, Exhibits
8-K 2019-11-01 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-10-22 Earnings, Exhibits
8-K 2019-09-29 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-09-23 Off-BS Arrangement, Exhibits
8-K 2019-09-19 Other Events, Exhibits
8-K 2019-07-24 Earnings, Exhibits
8-K 2019-06-27 Off-BS Arrangement, Exhibits
8-K 2019-06-24 Other Events, Exhibits
8-K 2019-06-10 Enter Agreement, Off-BS Arrangement, Sale of Shares, Shareholder Rights, Amend Bylaw, Other Events, Exhibits
8-K 2019-05-03 Enter Agreement, Off-BS Arrangement, Exhibits
8-K 2019-04-23 Earnings, Exhibits
8-K 2019-03-04 Enter Agreement, Exhibits
8-K 2019-02-19 Officers
8-K 2019-01-25 Earnings, Exhibits
8-K 2019-01-25 Officers
8-K 2018-12-20 Enter Agreement, M&A, Off-BS Arrangement, Sale of Shares, Shareholder Rights, Officers, Amend Bylaw, Exhibits
8-K 2018-10-23 Earnings, Exhibits
8-K 2018-08-31 Enter Agreement, Exhibits
8-K 2018-07-26 Other Events, Exhibits
8-K 2018-07-25 Earnings, Exhibits
8-K 2018-06-29 M&A, Exhibits
8-K 2018-04-24 Earnings, Exhibits
8-K 2018-03-30 Enter Agreement, Exhibits
8-K 2018-03-21 Enter Agreement, Exhibits
8-K 2018-01-26 Earnings, Exhibits

Nextera Energy Partners Financials

NEP Metrics, Comps, Filings

Quarterly | Annual

Business

NEP is a growth-oriented limited partnership formed to acquire, manage and own contracted clean energy projects with stable long-term cash flows. At December 31, 2018, NEP owned a controlling, non-economic general partner interest and a 35.6% limited partner interest in NEP OpCo. Through NEP OpCo, NEP owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as seven contracted natural gas pipeline assets.

NEP expects to take advantage of trends in the North American energy industry, including the addition of clean energy projects as aging or uneconomic generation facilities are phased out, increased demand from utilities for renewable energy to meet state RPS requirements, improving competitiveness of energy generated from wind and solar projects relative to energy generated using other fuels and increased demand for natural gas transportation. NEP plans to focus on high-quality, long-lived projects operating under long-term contracts that are expected to produce stable long-term cash flows. NEP believes its cash flow profile, geographic, technological and resource diversity, operational excellence and cost-efficient business model provide NEP with a significant competitive advantage and enable NEP to execute its business strategy.

NEP was formed as a Delaware limited partnership in 2014 as an indirect wholly owned subsidiary of NEE. On July 1, 2014, NEP completed its IPO. In 2017, NEP and NEP GP implemented governance changes that, among other things, enhanced NEP unitholder governance rights. The new governance structure established a NEP board of directors whereby, beginning in 2018, NEP unitholders have the ability to nominate and elect board members, subject to certain limitations and requirements. The following diagram depicts NEP's simplified ownership structure at December 31, 2018:


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
IDACORP (IDA) 5,266 0% 16.7 3% 6,502 2,251 1,010 0 186 409 6,842
Portland General Electric (POR) 5,062 0% 13.6 2% 8,154 5,590 1,577 0 153 573 7,805
Hawaiian Electric Industries (HE) 4,850 0% 22.9 2% 13,518 11,241 2,993 0 203 286 6,558
PNM Resources (PNM) 4,151 0% 14.6 2% 7,201 5,454 1,113 0 160 490 7,162
Nextera Energy Partners (NEP) 4,037 0% -44.3 -1% 11,595 5,419 804 0 -144 -179 7,925
Ormat Technologies (ORA) 3,799 38% 10.5 3% 3,259 1,746 753 286 98 346 3,619
Terraform Power (TERP) 3,708 0% 49.4 -1% 9,929 7,441 948 0 -129 200 9,885
El Paso Electric (EE) 2,728 63% 21.3 2% 3,800 2,571 863 541 95 192 4,098
Pattern Energy Group (PEGI) 2,667 1% -1,284.6 -2% 5,396 3,567 507 6 -101 -4 5,138
MGE Energy (MGEE) 2,605 27.9 4% 2,067 728 0 0 87 109 3,037
Covanta Holding (CVA) 2,302 18% 42.9 0% 3,798 3,421 1,885 347 7 109 4,677
Otter Tail (OTTR) 2,160 0% 19.8 3% 2,180 1,424 18 0 66 139 2,751
Atlantica Yield (AY) 1,900 0% 9,919 8,163 0 0 0 0 1,604
Kenon Holdings (KEN) 834 0% 1,455 739 0 0 0 0 784
Azure Power Global (AZRE) 464 0% 108,864 83,467 0 0 0 0 56,261
Atlantic Power (AT) 326 0% 3.2 2% 988 786 288 0 20 83 267
Sky Solar Holdings (SKYS) 248 0% 585 507 0 0 0 0 248
Ellomay Capital (ELLO) 83 0% 211 134 0 0 0 0 47
EnSync (ESNC) 20 22% -1.5 -116% 10 4 11 2 -12 -12 17
Eastern Light Capital (ELC) 18 0% -144.3 -3% 5 2 0 0 -0 -0 20

Balance Sheet ($MM)2014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash107118975210069616113324413314782128135198196688110166144178210
Accounts Receivable6360253351487292929180899783857286738071101102
Inventory66813
PP&E2,0882,2092,3332,4953,1993,1454,6794,7074,6775,0985,7385,0295,3935,3937,1285,2395,1745,1327,7366,7137,0716,982
Assets2,8762,7752,7272,9283,7194,2176,0926,7006,7367,3697,1507,0927,4797,7828,3958,2867,7947,8509,4059,29311,76811,595
Accounts Payable
Long-Term Debt2,2351,8571,8361,8801,9581,9103,4353,5333,5793,6643,5863,7684,0154,3354,3173,5803,5723,5553,4353,4134,2754,098
Liabilities2,3982,0292,0162,3162,9152,5364,5304,9214,9665,2004,9814,9355,3745,7066,1874,7213,9053,8183,8673,9485,2685,419
Stockholders' Equity478
Income Statement ($MM)2014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue87896674107103141165171186176175204177197212225178155177219253
Cost of Revenue
Gross Profit
R&D
SG&A
Tax52315310-3-92541891313519-2115-7-10-18
Net Income222419231424528127185425038-5673296110-22-22-28-72
Cash Flow ($MM)2014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating375015663612349961028135119831765313019111122
Cash Investing-112-52-119-4384-1,236-38916-84764-40-228-301-799-646621-1,722182
Cash Financing88-1959412560580308-2634-133-61154226640-48-103-621,645-272