Zacks: Analysts Anticipate NextEra Energy Partners, LP (NYSE:NEP) Will Post Quarterly Sales of $350.87 Million

Wall Street brokerages expect NextEra Energy Partners, LP (NYSE:NEP) to report sales of $350.87 million for the current quarter, according to Zacks. Four analysts have made estimates for NextEra Energy Partners’ earnings, with estimates ranging from $262.80 million to $478.56 million. NextEra Energy Partners posted sales of $212.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 65.5%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, January 25th.

According to Zacks, analysts expect that NextEra Energy Partners will report full year sales of $1.23 billion for the current year, with estimates ranging from $1.04 billion to $1.49 billion. For the next year, analysts forecast that the firm will report sales of $1.57 billion, with estimates ranging from $1.15 billion to $2.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for NextEra Energy Partners.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Tuesday, October 19th. The solar energy provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.36). The firm had revenue of $252.00 million during the quarter, compared to analyst estimates of $335.56 million. NextEra Energy Partners had a net margin of 29.70% and a return on equity of 3.50%. NextEra Energy Partners’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 earnings per share.

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of NextEra Energy Partners from $69.00 to $95.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group assumed coverage on shares of NextEra Energy Partners in a research note on Thursday, August 26th. They set a “buy” rating and a $100.00 target price on the stock. KeyCorp assumed coverage on shares of NextEra Energy Partners in a research note on Monday, September 20th. They set an “overweight” rating on the stock. Finally, Zacks Investment Research lowered shares of NextEra Energy Partners from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research note on Wednesday, July 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy Partners has a consensus rating of “Hold” and an average price target of $85.25.

A number of institutional investors and hedge funds have recently bought and sold shares of NEP. FMR LLC boosted its position in NextEra Energy Partners by 116.9% during the second quarter. FMR LLC now owns 6,140,723 shares of the solar energy provider’s stock worth $468,906,000 after purchasing an additional 3,309,086 shares during the period. Neuberger Berman Group LLC raised its stake in shares of NextEra Energy Partners by 2.8% during the second quarter. Neuberger Berman Group LLC now owns 4,685,631 shares of the solar energy provider’s stock worth $357,791,000 after acquiring an additional 128,470 shares in the last quarter. First Trust Advisors LP raised its stake in shares of NextEra Energy Partners by 329.1% during the second quarter. First Trust Advisors LP now owns 3,033,101 shares of the solar energy provider’s stock worth $231,608,000 after acquiring an additional 2,326,206 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of NextEra Energy Partners by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 2,431,168 shares of the solar energy provider’s stock worth $185,643,000 after acquiring an additional 157,881 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of NextEra Energy Partners by 12.6% in the second quarter. 1832 Asset Management L.P. now owns 2,087,826 shares of the solar energy provider’s stock worth $156,101,000 after buying an additional 234,090 shares during the period. Institutional investors own 80.46% of the company’s stock.

NEP traded up $0.73 during trading on Friday, reaching $87.69. 409,023 shares of the company’s stock were exchanged, compared to its average volume of 551,736. NextEra Energy Partners has a one year low of $60.80 and a one year high of $88.80. The company has a quick ratio of 3.00, a current ratio of 3.16 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $6.72 billion, a PE ratio of 31.54, a PEG ratio of 1.78 and a beta of 0.78. The stock has a fifty day moving average price of $81.36.

The company also recently announced a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Thursday, November 4th were issued a $0.685 dividend. The ex-dividend date of this dividend was Wednesday, November 3rd. This represents a $2.74 annualized dividend and a dividend yield of 3.12%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.66. NextEra Energy Partners’s dividend payout ratio is currently 98.56%.

NextEra Energy Partners Company Profile

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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