Nextera Energy Partners (NEP) Releases Quarterly Earnings Results

Nextera Energy Partners (NYSE:NEP) released its quarterly earnings results on Friday. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.07), Morningstar.com reports. Nextera Energy Partners had a return on equity of 3.57% and a net margin of 10.38%. The firm had revenue of $197.00 million for the quarter, compared to analyst estimates of $251.41 million. During the same period in the prior year, the business earned ($0.23) earnings per share.

Shares of Nextera Energy Partners (NEP) traded up $1.02 during mid-day trading on Friday, hitting $43.04. 300,361 shares of the stock traded hands, compared to its average volume of 251,882. The stock has a market cap of $2,279.63, a price-to-earnings ratio of 31.19, a P/E/G ratio of 2.29 and a beta of 1.20. Nextera Energy Partners has a 1-year low of $27.47 and a 1-year high of $44.24. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20.

The business also recently disclosed a dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be issued a dividend of $0.405 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a dividend yield of 0.00940985130111524%. Nextera Energy Partners’s payout ratio is currently 113.77%.

Several research firms have issued reports on NEP. Zacks Investment Research cut shares of Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “hold” rating and set a $39.00 price target on shares of Nextera Energy Partners in a research note on Tuesday, October 10th. Credit Suisse Group began coverage on shares of Nextera Energy Partners in a research note on Thursday, December 7th. They set an “outperform” rating and a $44.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Nextera Energy Partners from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Finally, Guggenheim began coverage on shares of Nextera Energy Partners in a research note on Tuesday, January 2nd. They set a “buy” rating and a $45.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.38.

Hedge funds have recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Nextera Energy Partners by 38.0% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 638,072 shares of the solar energy provider’s stock worth $25,701,000 after acquiring an additional 175,800 shares during the period. Adell Harriman & Carpenter Inc. raised its holdings in Nextera Energy Partners by 16.0% in the third quarter. Adell Harriman & Carpenter Inc. now owns 29,650 shares of the solar energy provider’s stock valued at $1,195,000 after buying an additional 4,100 shares during the period. California Public Employees Retirement System raised its holdings in Nextera Energy Partners by 8.8% in the third quarter. California Public Employees Retirement System now owns 213,422 shares of the solar energy provider’s stock valued at $8,599,000 after buying an additional 17,322 shares during the period. Teilinger USA Inc. purchased a new position in Nextera Energy Partners in the third quarter valued at approximately $7,591,000. Finally, Jennison Associates LLC raised its holdings in Nextera Energy Partners by 2.7% in the third quarter. Jennison Associates LLC now owns 2,493,394 shares of the solar energy provider’s stock valued at $100,459,000 after buying an additional 64,760 shares during the period. Institutional investors and hedge funds own 83.57% of the company’s stock.

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About Nextera Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

Earnings History for Nextera Energy Partners (NYSE:NEP)

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