Nextera Energy Partners LP (NYSE:NEP) Expected to Post Earnings of $0.49 Per Share

Analysts expect Nextera Energy Partners LP (NYSE:NEP) to announce earnings per share of $0.49 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Nextera Energy Partners’ earnings. The highest EPS estimate is $0.55 and the lowest is $0.45. Nextera Energy Partners posted earnings of ($0.39) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 225.6%. The company is expected to issue its next quarterly earnings results on Friday, January 24th.

On average, analysts expect that Nextera Energy Partners will report full year earnings of ($1.43) per share for the current financial year, with EPS estimates ranging from ($1.63) to ($1.06). For the next fiscal year, analysts anticipate that the business will post earnings of $2.01 per share, with EPS estimates ranging from $1.35 to $2.71. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Nextera Energy Partners.

Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($1.61). The firm had revenue of $253.00 million during the quarter, compared to the consensus estimate of $354.51 million. Nextera Energy Partners had a negative return on equity of 2.49% and a negative net margin of 16.67%. During the same quarter in the prior year, the firm posted $0.58 earnings per share.

Several research analysts recently commented on the stock. Wells Fargo & Co boosted their price objective on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. ValuEngine downgraded shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Barclays raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and upped their price target for the stock 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 price objective for the company in a report on Thursday, October 3rd. Finally, Credit Suisse Group increased their price objective on Nextera Energy Partners from $52.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently 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 firm’s stock in a transaction that occurred on Friday, October 25th. The stock was purchased at an average cost of $51.78 per share, with a total value of $51,780.00. Following the transaction, the director now directly owns 19,590 shares of the company’s stock, valued at approximately $1,014,370.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. American Asset Management Inc. boosted its position in Nextera Energy Partners by 3.9% during the third quarter. American Asset Management Inc. now owns 5,350 shares of the solar energy provider’s stock worth $283,000 after purchasing an additional 200 shares in the last quarter. Van Hulzen Asset Management LLC boosted its position in Nextera Energy Partners by 9.5% during the third quarter. Van Hulzen Asset Management LLC now owns 4,600 shares of the solar energy provider’s stock worth $243,000 after acquiring an additional 400 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Nextera Energy Partners by 11.6% during the 2nd quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock worth $193,000 after purchasing an additional 414 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nextera Energy Partners by 12.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,007 shares of the solar energy provider’s stock worth $212,000 after buying an additional 443 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Nextera Energy Partners by 27.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,559 shares of the solar energy provider’s stock worth $135,000 after acquiring an additional 555 shares during the last quarter. 76.83% of the stock is currently owned by institutional investors.

Shares of NYSE:NEP traded down $0.06 during trading on Tuesday, reaching $52.99. The stock had a trading volume of 288,488 shares, compared to its average volume of 279,525. The firm’s 50-day simple moving average is $52.12 and its 200 day simple moving average is $49.98. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.64. Nextera Energy Partners has a one year low of $39.35 and a one year high of $53.90.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.517 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $2.07 annualized dividend and a dividend yield of 3.90%. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.50. Nextera Energy Partners’s dividend payout ratio is 71.13%.

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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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

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