Wall Street analysts expect Nextera Energy Partners LP (NYSE:NEP) to announce $326.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nextera Energy Partners’ earnings, with estimates ranging from $279.00 million to $373.00 million. Nextera Energy Partners posted sales of $155.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 110.9%. The firm is expected to issue its next quarterly earnings results on Friday, January 24th.
According to Zacks, analysts expect that Nextera Energy Partners will report full year sales of $1.01 billion for the current financial year, with estimates ranging from $928.00 million to $1.12 billion. For the next financial year, analysts expect that the business will post sales of $1.49 billion, with estimates ranging from $1.20 billion to $1.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Nextera Energy Partners.
Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings data on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($1.61). Nextera Energy Partners had a negative net margin of 16.67% and a negative return on equity of 2.49%. The company had revenue of $253.00 million during the quarter, compared to analyst estimates of $354.51 million. During the same quarter in the prior year, the company earned $0.58 EPS.
NEP has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 target price for the company in a research note on Thursday, October 3rd. ValuEngine upgraded shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Credit Suisse Group increased their target price on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Barclays upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $61.00 in a research note on Tuesday, October 8th. Finally, Wells Fargo & Co increased their target price 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Nextera Energy Partners currently has a consensus rating of “Buy” and an average price target of $54.00.
Shares of NEP traded up $0.25 during mid-day trading on Tuesday, hitting $52.25. 163,500 shares of the company’s stock were exchanged, compared to its average volume of 300,458. Nextera Energy Partners has a fifty-two week low of $39.35 and a fifty-two week high of $53.90. The firm has a market capitalization of $3.16 billion, a P/E ratio of 17.96 and a beta of 0.90. The business’s 50 day moving average is $51.48 and its two-hundred day moving average is $49.21. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.64.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.517 per share. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, November 5th. This represents a $2.07 annualized dividend and a dividend yield of 3.96%. Nextera Energy Partners’s dividend payout ratio is 71.13%.
In other Nextera Energy Partners news, Director Peter H. Kind bought 1,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was acquired at an average price of $51.78 per share, for a total transaction of $51,780.00. Following the completion of the purchase, the director now owns 19,590 shares of the company’s stock, valued at $1,014,370.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NEP. Manchester Financial Inc. purchased a new position in Nextera Energy Partners during the second quarter worth about $27,000. AGF Investments LLC purchased a new position in Nextera Energy Partners during the second quarter worth about $49,000. CWM LLC purchased a new position in Nextera Energy Partners during the third quarter worth about $53,000. Steward Partners Investment Advisory LLC purchased a new position in Nextera Energy Partners during the second quarter worth about $57,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Nextera Energy Partners during the second quarter worth about $57,000. 74.94% of the stock is owned by hedge funds and other institutional investors.
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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