Analysts Expect Nextera Energy Partners LP (NYSE:NEP) to Post $0.49 EPS

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.

See Also: Outstanding Shares, Buying and Selling Stocks

Get a free copy of the Zacks research report on Nextera Energy Partners (NEP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Nextera Energy Partners (NYSE:NEP)

Receive News & Ratings for Nextera Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextera Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.