BUZZ-XPLR Infrastructure tumbles to all-time low after suspending dividend

Updates

XPLR Infrastructure's NEP.N shares tumble over 27% to an all-time low of $11.48

Company, previously known as NextEra Energy Partners, reports Q4 net loss of $1.08/shr vs profit of $1.20/shr a year earlier

XPLR Infrastructure to suspend distributions to unitholders for an indefinite period as it repositions its business model

Company says it will now focus on utilizing retained operating cash flows to fund investments instead of raising new capital to acquire assets

"The changes we are announcing today are intended to eliminate the need to issue equity, (enabling NEP) to both preserve its balance sheet capacity... and maintain greater financial flexibility," company says

Company names Alan Liu as CEO

In 2024, stock fell over 40%