Zacks: Analysts Anticipate NextEra Energy Partners, LP (NYSE:NEP) Will Post Quarterly Sales of $350.87 Million

Analysts forecast that NextEra Energy Partners, LP (NYSE:NEP) will report sales of $350.87 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for NextEra Energy Partners’ earnings. The lowest sales estimate is $262.80 million and the highest is $478.56 million. NextEra Energy Partners reported sales of $212.00 million in the same quarter last year, which indicates a positive year over year growth rate of 65.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, January 25th.

On average, analysts expect that NextEra Energy Partners will report full-year sales of $1.23 billion for the current financial year, with estimates ranging from $1.04 billion to $1.49 billion. For the next fiscal year, analysts expect that the company will report sales of $1.57 billion, with estimates ranging from $1.15 billion to $2.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for NextEra Energy Partners.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Tuesday, October 19th. The solar energy provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.36). The firm had revenue of $252.00 million during the quarter, compared to the consensus estimate of $335.56 million. NextEra Energy Partners had a net margin of 29.70% and a return on equity of 3.50%. NextEra Energy Partners’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share.

A number of research firms recently commented on NEP. Zacks Investment Research lowered NextEra Energy Partners from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a research note on Wednesday, July 28th. Morgan Stanley upped their price objective on shares of NextEra Energy Partners from $69.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday. KeyCorp started coverage on shares of NextEra Energy Partners in a research note on Monday, September 20th. They issued an “overweight” rating on the stock. Finally, UBS Group started coverage on shares of NextEra Energy Partners in a research note on Thursday, August 26th. They issued a “buy” rating and a $100.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus target price of $85.25.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Redpoint Investment Management Pty Ltd acquired a new position in NextEra Energy Partners during the second quarter worth $2,854,000. Credit Suisse AG raised its holdings in NextEra Energy Partners by 25.2% during the second quarter. Credit Suisse AG now owns 349,422 shares of the solar energy provider’s stock worth $26,186,000 after buying an additional 70,433 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in NextEra Energy Partners by 17.8% during the second quarter. Aptus Capital Advisors LLC now owns 20,327 shares of the solar energy provider’s stock worth $1,552,000 after buying an additional 3,072 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in NextEra Energy Partners during the second quarter worth $9,545,000. Finally, Stifel Financial Corp raised its holdings in NextEra Energy Partners by 2.6% during the second quarter. Stifel Financial Corp now owns 77,374 shares of the solar energy provider’s stock worth $5,909,000 after buying an additional 1,983 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners stock traded up $0.73 during trading hours on Friday, hitting $87.69. The stock had a trading volume of 409,023 shares, compared to its average volume of 551,736. The company has a current ratio of 3.16, a quick ratio of 3.00 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $6.72 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 1.78 and a beta of 0.78. NextEra Energy Partners has a one year low of $60.80 and a one year high of $88.80. The business has a 50 day moving average of $81.36.

The business also recently announced a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Thursday, November 4th were paid a dividend of $0.685 per share. The ex-dividend date of this dividend was Wednesday, November 3rd. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.66. This represents a $2.74 annualized dividend and a yield of 3.12%. NextEra Energy Partners’s dividend payout ratio is currently 98.56%.

About NextEra Energy Partners

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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

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