Equities analysts expect Nextera Energy Partners LP (NYSE:NEP) to post sales of $326.83 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Nextera Energy Partners’ earnings. The lowest sales estimate is $279.00 million and the highest is $373.00 million. Nextera Energy Partners posted sales of $155.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 110.9%. The business is scheduled to announce its next earnings results on Friday, January 24th.
On average, analysts expect that Nextera Energy Partners will report full year sales of $1.01 billion for the current financial year, with estimates ranging from $928.00 million to $1.12 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.49 billion, with estimates ranging from $1.20 billion to $1.75 billion. Zacks’ 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 quarterly earnings data on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $253.00 million during the quarter, compared to analyst estimates of $354.51 million. During the same quarter in the previous year, the company earned $0.58 earnings per share.
Several brokerages recently commented on NEP. Barclays upgraded Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $61.00 in a research report on Tuesday, October 8th. Zacks Investment Research upgraded Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 target price for the company in a report on Thursday, October 3rd. Credit Suisse Group boosted their price target on Nextera Energy Partners from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. ValuEngine cut Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Co upped their price objective on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $54.00.
In related news, Director Peter H. Kind acquired 1,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were acquired at an average cost of $51.78 per share, for a total transaction of $51,780.00. Following the purchase, the director now owns 19,590 shares in the company, valued at $1,014,370.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Nextera Energy Partners by 32.3% in the 3rd quarter. Barclays PLC now owns 1,086,968 shares of the solar energy provider’s stock worth $57,435,000 after acquiring an additional 265,356 shares during the period. Point72 Asset Management L.P. boosted its stake in Nextera Energy Partners by 2.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 311,816 shares of the solar energy provider’s stock valued at $16,476,000 after buying an additional 8,611 shares in the last quarter. Stifel Financial Corp boosted its stake in Nextera Energy Partners by 0.9% in the 3rd quarter. Stifel Financial Corp now owns 78,056 shares of the solar energy provider’s stock valued at $4,123,000 after buying an additional 662 shares in the last quarter. Virtu Financial LLC bought a new stake in Nextera Energy Partners in the third quarter valued at $220,000. Finally, Eventide Asset Management LLC grew its position in Nextera Energy Partners by 32.6% in the third quarter. Eventide Asset Management LLC now owns 1,063,922 shares of the solar energy provider’s stock valued at $56,218,000 after acquiring an additional 261,722 shares during the period. 76.83% of the stock is owned by institutional investors and hedge funds.
Shares of NEP stock traded down $0.06 during mid-day trading on Thursday, hitting $52.99. The company’s stock had a trading volume of 288,488 shares, compared to its average volume of 279,525. The company’s fifty day simple moving average is $52.12 and its 200-day simple moving average is $49.98. Nextera Energy Partners has a 52 week low of $39.35 and a 52 week high of $53.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.60 and a current ratio of 1.60.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were issued a $0.517 dividend. This represents a $2.07 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date was Tuesday, November 5th. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.50. Nextera Energy Partners’s dividend payout ratio (DPR) is currently 71.13%.
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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