Zacks Research Has Positive Outlook for NEP FY2024 Earnings

NextEra Energy Partners, LP (NYSE:NEP) – Research analysts at Zacks Research upped their FY2024 earnings per share estimates for shares of NextEra Energy Partners in a research note issued to investors on Tuesday, January 14th. Zacks Research analyst J. Saha now forecasts that the solar energy provider will post earnings of $1.35 per share for the year, up from their prior estimate of $1.27. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $2.04 per share. Zacks Research also issued estimates for NextEra Energy Partners’ Q1 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $1.49 EPS, Q1 2026 earnings at $0.21 EPS, Q2 2026 earnings at $0.37 EPS, Q4 2026 earnings at $0.50 EPS and FY2026 earnings at $1.50 EPS.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. BNP Paribas started coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target for the company. Barclays reiterated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. UBS Group decreased their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Finally, Mizuho cut their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.64.

NextEra Energy Partners Trading Down 0.1 %

NYSE:NEP opened at $16.77 on Thursday. The firm has a market capitalization of $1.57 billion, a P/E ratio of 7.69 and a beta of 1.06. NextEra Energy Partners has a 52 week low of $15.55 and a 52 week high of $35.15. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average of $17.57 and a 200 day moving average of $22.53.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners during the 2nd quarter valued at about $51,000. Eastern Bank bought a new stake in NextEra Energy Partners during the 3rd quarter valued at about $57,000. McIlrath & Eck LLC purchased a new position in NextEra Energy Partners in the third quarter worth about $63,000. Finally, Central Pacific Bank Trust Division raised its holdings in NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after buying an additional 3,750 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 21.88%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

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.