NextEra Energy Partners LP (NEP), now known as XPLR Infrastructure, saw a massive 27.28% plunge in its stock price during the pre-market trading session on Tuesday, January 28, 2025.

The primary reason for this sharp decline was XPLR Infrastructure's announcement that it will suspend distributions to unitholders for an indefinite period. The company stated that it is repositioning its business model to utilize retained operating cash flows to fund investments instead of raising new capital through equity issuances.

XPLR Infrastructure, which owns clean energy infrastructure assets, reported disappointing Q4 2024 financial results. The company swung to a loss of $1.08 per diluted unit, compared to a profit of $1.20 a year earlier. Its operating revenue of $294 million missed analysts' estimates of $298 million.