NextEra Energy Partners (NYSE:NEP) Posts Quarterly Earnings Results, Beats Expectations By $0.63 EPS

NextEra Energy Partners (NYSE:NEP) posted its quarterly earnings data on Monday. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.63, Briefing.com reports. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. During the same period in the prior year, the business earned ($0.17) EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year.

NextEra Energy Partners Stock Performance

NEP stock opened at $29.62 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $63.89. The company has a market cap of $2.77 billion, a P/E ratio of 9.71 and a beta of 1.00. The business’s fifty day moving average is $28.29 and its 200-day moving average is $27.35.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a $0.8925 dividend. The ex-dividend date is Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a yield of 12.05%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 115.41%.

Wall Street Analysts Forecast Growth

NEP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Barclays assumed coverage on shares of NextEra Energy Partners in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price on the stock. Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Raymond James lowered their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Finally, StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.88.

NextEra Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.