Wall Street brokerages expect that Nextera Energy Partners LP (NYSE:NEP) will announce sales of $283.71 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nextera Energy Partners’ earnings, with estimates ranging from $265.58 million to $319.64 million. Nextera Energy Partners reported sales of $175.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 62.1%. The business is expected to announce its next earnings results before the market opens on Tuesday, April 24th.
On average, analysts expect that Nextera Energy Partners will report full-year sales of $1.14 billion for the current financial year, with estimates ranging from $785.00 million to $1.39 billion. For the next financial year, analysts forecast that the company will report sales of $1.29 billion per share, with estimates ranging from $875.00 million to $1.57 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Nextera Energy Partners.
Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Friday, January 26th. The solar energy provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). The firm had revenue of $197.00 million for the quarter, compared to the consensus estimate of $251.41 million. Nextera Energy Partners had a positive return on equity of 1.80% and a negative net margin of 8.63%. During the same quarter in the prior year, the firm earned ($0.23) EPS.
NEP has been the topic of a number of research reports. Guggenheim initiated coverage on Nextera Energy Partners in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price target on the stock. ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Bank of America upgraded Nextera Energy Partners from an “underperform” rating to a “buy” rating and upped their price target for the company from $39.12 to $43.00 in a research report on Friday, March 16th. Zacks Investment Research upgraded Nextera Energy Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 3rd. Finally, JPMorgan Chase reduced their price target on Nextera Energy Partners from $40.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.03.
Several institutional investors have recently made changes to their positions in the stock. Jennison Associates LLC boosted its position in shares of Nextera Energy Partners by 0.4% during the 4th quarter. Jennison Associates LLC now owns 2,503,347 shares of the solar energy provider’s stock valued at $107,919,000 after purchasing an additional 9,953 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Nextera Energy Partners by 34.0% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,014,450 shares of the solar energy provider’s stock valued at $43,733,000 after purchasing an additional 257,500 shares in the last quarter. Eaton Vance Management boosted its position in shares of Nextera Energy Partners by 11.8% during the 4th quarter. Eaton Vance Management now owns 826,220 shares of the solar energy provider’s stock valued at $35,618,000 after purchasing an additional 87,484 shares in the last quarter. GW&K Investment Management LLC bought a new stake in shares of Nextera Energy Partners during the 4th quarter valued at about $19,687,000. Finally, Advisory Research Inc. boosted its position in shares of Nextera Energy Partners by 2.1% during the 4th quarter. Advisory Research Inc. now owns 315,888 shares of the solar energy provider’s stock valued at $13,618,000 after purchasing an additional 6,620 shares in the last quarter. Institutional investors own 83.22% of the company’s stock.
NEP stock traded up $0.77 during midday trading on Wednesday, reaching $39.24. 222,497 shares of the stock were exchanged, compared to its average volume of 278,668. The firm has a market capitalization of $2,087.04, a P/E ratio of 59.45, a P/E/G ratio of 1.79 and a beta of 1.20. Nextera Energy Partners has a 52 week low of $31.78 and a 52 week high of $45.38. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 2.54.
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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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