Wall Street brokerages expect that NextEra Energy Partners, LP (NYSE:NEP) will post $0.26 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for NextEra Energy Partners’ earnings. The lowest EPS estimate is $0.01 and the highest is $0.59. NextEra Energy Partners reported earnings of $0.91 per share in the same quarter last year, which would suggest a negative year over year growth rate of 71.4%. The firm is expected to report its next earnings report before the market opens on Friday, January 26th.
On average, analysts expect that NextEra Energy Partners will report full-year earnings of $0.91 per share for the current year, with EPS estimates ranging from $0.49 to $1.59. For the next financial year, analysts forecast that the business will post earnings of $1.89 per share, with EPS estimates ranging from $1.15 to $2.69. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for NextEra Energy Partners.
NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Thursday, October 26th. The solar energy provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.36). The firm had revenue of $177.00 million for the quarter, compared to analysts’ expectations of $243.16 million. NextEra Energy Partners had a net margin of 10.38% and a return on equity of 3.57%.
Several equities analysts have weighed in on the company. Credit Suisse Group assumed coverage on NextEra Energy Partners in a report on Thursday, December 7th. They set an “outperform” rating and a $44.00 price target for the company. Royal Bank of Canada restated a “hold” rating and set a $39.00 price target on shares of NextEra Energy Partners in a report on Tuesday, October 10th. Morgan Stanley upgraded NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price target for the company in a report on Tuesday, December 12th. Zacks Investment Research cut NextEra Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, September 29th. Finally, Bank of America reiterated an “underperform” rating and issued a $35.00 target price on shares of NextEra Energy Partners in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $40.38.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of NextEra Energy Partners by 9.9% in the 2nd quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock worth $120,672,000 after purchasing an additional 293,830 shares during the period. Jennison Associates LLC boosted its holdings in NextEra Energy Partners by 2.7% during the 3rd quarter. Jennison Associates LLC now owns 2,493,394 shares of the solar energy provider’s stock valued at $100,459,000 after acquiring an additional 64,760 shares during the period. FMR LLC boosted its holdings in NextEra Energy Partners by 9.3% during the 2nd quarter. FMR LLC now owns 1,816,194 shares of the solar energy provider’s stock valued at $67,181,000 after acquiring an additional 154,700 shares during the period. Reaves W H & Co. Inc. boosted its holdings in NextEra Energy Partners by 3.3% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,444,248 shares of the solar energy provider’s stock valued at $58,189,000 after acquiring an additional 46,025 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in NextEra Energy Partners by 38.0% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 638,072 shares of the solar energy provider’s stock valued at $25,701,000 after acquiring an additional 175,800 shares during the period. Hedge funds and other institutional investors own 83.49% of the company’s stock.
NextEra Energy Partners (NYSE:NEP) traded up $0.13 during midday trading on Friday, reaching $40.31. The company’s stock had a trading volume of 347,368 shares, compared to its average volume of 269,361. The stock has a market cap of $2,186.86, a PE ratio of 29.21, a PEG ratio of 1.99 and a beta of 1.20. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.20 and a quick ratio of 3.20. NextEra Energy Partners has a fifty-two week low of $26.97 and a fifty-two week high of $44.24.
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About NextEra Energy Partners
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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