NextEra Energy Partners (NEP) to Release Quarterly Earnings on Tuesday

NextEra Energy Partners (NYSE:NEP) will be announcing its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.17 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.38). The business had revenue of $232.00 million for the quarter, compared to the consensus estimate of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. On average, analysts expect NextEra Energy Partners to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NextEra Energy Partners Stock Down 1.7 %

NEP opened at $27.07 on Tuesday. The stock’s fifty day simple moving average is $28.39 and its 200 day simple moving average is $27.20. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $64.43. The stock has a market cap of $2.53 billion, a PE ratio of 12.71 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a $0.88 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 annualized dividend and a dividend yield of 13.00%. The ex-dividend date of this dividend was Monday, February 5th. NextEra Energy Partners’s payout ratio is currently 165.26%.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. ClearBridge Investments Ltd boosted its holdings in shares of NextEra Energy Partners by 94.8% during the 1st quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock valued at $128,470,000 after acquiring an additional 750,144 shares in the last quarter. Morgan Stanley raised its position in NextEra Energy Partners by 52.8% in the fourth quarter. Morgan Stanley now owns 1,268,893 shares of the solar energy provider’s stock valued at $88,937,000 after purchasing an additional 438,375 shares during the last quarter. BlackRock Inc. boosted its stake in shares of NextEra Energy Partners by 4.9% during the first quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock valued at $634,357,000 after purchasing an additional 356,265 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of NextEra Energy Partners by 969.9% during the second quarter. Osaic Holdings Inc. now owns 384,700 shares of the solar energy provider’s stock worth $2,379,000 after purchasing an additional 348,743 shares during the last quarter. Finally, Eaton Vance Management grew its holdings in shares of NextEra Energy Partners by 46.2% during the first quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider’s stock worth $60,939,000 after purchasing an additional 231,102 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

Analyst Upgrades and Downgrades

NEP has been the topic of a number of research reports. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Evercore ISI initiated coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target for the company. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Tuesday, January 9th. Raymond James lowered their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus price target of $45.53.

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, 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.