NextEra is in early talks to buy a portfolio of gas assets from Dominion, Bloomberg reported. The deal would expand NextEra's gas fleet as Dominion sheds debt. Shares were flat after hours.
NextEra Energy is in early-stage talks to acquire a portfolio of natural gas assets from Dominion Energy, Bloomberg reported Tuesday, citing people familiar with the matter. The deal would cover Dominion's gas-fired power plants and related infrastructure, the report said, without specifying a price or the exact assets under discussion.
A transaction would deepen NextEra's already large gas fleet, adding to the roughly 18 gigawatts of gas-fired capacity the company operates through its Florida Power & Light utility and its competitive power unit. Dominion has been selling assets to reduce its roughly $73 billion debt load, including a $3.3 billion deal last year to sell a 50% stake in its Cove Point LNG export terminal to a Blackstone-led group.
NextEra shares were little changed in after-hours trading. The stock carries an Alpha Score of 48 out of 100, a mixed reading that reflects balanced risk and reward signals across valuation, momentum, and earnings revisions. Dominion shares also traded flat.
Neither company commented on the report. The talks are preliminary and may not lead to a deal, the people said.
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