NextEra Energy Partners (NYSE:NEP) Issues Earnings Results

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

NextEra Energy Partners Trading Up 3.0 %

NYSE:NEP opened at $29.62 on Thursday. NextEra Energy Partners has a 12-month low of $20.17 and a 12-month high of $63.89. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $28.29 and its 200-day simple moving average is $27.35. The firm has a market cap of $2.77 billion, a P/E ratio of 9.71 and a beta of 1.00.

NextEra Energy Partners Increases Dividend

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

Wall Street Analyst Weigh In

NEP has been the subject of a number of recent analyst reports. Evercore ISI assumed coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 target price for the company. CIBC cut NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 9th. Raymond James reduced their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 3rd. Barclays began coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price objective for the company. Finally, StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.88.

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, 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.