Equities research analysts expect Nextera Energy Partners LP (NYSE:NEP) to report earnings per share (EPS) of $0.49 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Nextera Energy Partners’ earnings, with estimates ranging from $0.45 to $0.55. Nextera Energy Partners reported earnings per share of ($0.39) during the same quarter last year, which indicates a positive year over year growth rate of 225.6%. The company is expected to issue its next earnings report on Friday, January 24th.
On average, analysts expect that Nextera Energy Partners will report full year earnings of ($1.43) per share for the current fiscal year, with EPS estimates ranging from ($1.63) to ($1.06). For the next financial year, analysts forecast that the firm will report earnings of $2.01 per share, with EPS estimates ranging from $1.35 to $2.71. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Nextera Energy Partners.
Nextera Energy Partners (NYSE:NEP) last posted its earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($1.61). Nextera Energy Partners had a negative net margin of 16.67% and a negative return on equity of 2.49%. The business had revenue of $253.00 million during the quarter, compared to analyst estimates of $354.51 million. During the same period in the previous year, the firm posted $0.58 earnings per share.
NEP has been the topic of several recent analyst reports. ValuEngine lowered Nextera Energy Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Barclays raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $61.00 in a research note on Tuesday, October 8th. Wells Fargo & Co raised their target price on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Credit Suisse Group lifted their price target on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price target on the stock in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.00.
In other news, Director Peter H. Kind purchased 1,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were purchased at an average price of $51.78 per share, with a total value of $51,780.00. Following the purchase, the director now directly owns 19,590 shares of the company’s stock, valued at approximately $1,014,370.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.61% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Nextera Energy Partners by 4.0% in the first quarter. First Trust Advisors LP now owns 54,619 shares of the solar energy provider’s stock valued at $2,547,000 after buying an additional 2,079 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Nextera Energy Partners in the 2nd quarter valued at about $57,000. Kayne Anderson Capital Advisors LP boosted its position in shares of Nextera Energy Partners by 5.1% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 474,722 shares of the solar energy provider’s stock worth $22,900,000 after purchasing an additional 23,100 shares during the period. AGF Investments LLC acquired a new stake in shares of Nextera Energy Partners in the second quarter valued at $49,000. Finally, Advisor Group Inc. raised its holdings in shares of Nextera Energy Partners by 11.6% in the 2nd quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock valued at $193,000 after buying an additional 414 shares during the period. 76.83% of the stock is owned by institutional investors.
Shares of NYSE NEP traded down $0.06 during mid-day trading on Tuesday, reaching $52.99. 288,488 shares of the company’s stock were exchanged, compared to its average volume of 279,525. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.64. The business has a fifty day simple moving average of $52.12 and a 200 day simple moving average of $49.98. Nextera Energy Partners has a twelve month low of $39.35 and a twelve month high of $53.90.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.517 per share. This represents a $2.07 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Tuesday, November 5th. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.50. Nextera Energy Partners’s dividend payout ratio is 71.13%.
About Nextera Energy Partners
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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