What is Zacks Research’s Forecast for NEP FY2024 Earnings?

NextEra Energy Partners, LP (NYSE:NEP) – Equities research analysts at Zacks Research cut their FY2024 EPS estimates for shares of NextEra Energy Partners in a report released on Wednesday, November 13th. Zacks Research analyst J. Saha now forecasts that the solar energy provider will post earnings of $1.27 per share for the year, down from their previous estimate of $1.85. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $1.36 per share. Zacks Research also issued estimates for NextEra Energy Partners’ Q4 2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.21 EPS, Q1 2026 earnings at $0.03 EPS, Q3 2026 earnings at $0.33 EPS and FY2026 earnings at $0.94 EPS.

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

Several other research firms also recently commented on NEP. Barclays reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Jefferies Financial Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, BMO Capital Markets lowered their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and an average price target of $26.69.

NextEra Energy Partners Trading Down 1.1 %

Shares of NextEra Energy Partners stock opened at $15.85 on Monday. The company has a fifty day simple moving average of $23.08 and a 200-day simple moving average of $26.41. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 7.27 and a beta of 1.10. NextEra Energy Partners has a 12-month low of $15.55 and a 12-month high of $35.15. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were given a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a dividend yield of 23.15%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 168.35%.

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently added to or reduced their stakes in NEP. Northwestern Mutual Wealth Management Co. increased its stake in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in NextEra Energy Partners in the 2nd quarter valued at about $51,000. Eastern Bank bought a new stake in shares of NextEra Energy Partners in the third quarter valued at approximately $57,000. McIlrath & Eck LLC acquired a new stake in shares of NextEra Energy Partners during the 3rd quarter worth $63,000. Finally, Central Bank & Trust Co. acquired a new stake in NextEra Energy Partners during the second quarter worth about $99,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.