$260.21 Million in Sales Expected for Nextera Energy Partners LP (NEP) This Quarter

Brokerages expect that Nextera Energy Partners LP (NYSE:NEP) will report $260.21 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Nextera Energy Partners’ earnings, with the highest sales estimate coming in at $319.64 million and the lowest estimate coming in at $195.10 million. Nextera Energy Partners reported sales of $175.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 48.7%. The business is scheduled to announce its next earnings results on Friday, April 20th.

According to Zacks, analysts expect that Nextera Energy Partners will report full year sales of $260.21 million for the current fiscal year, with estimates ranging from $823.30 million to $1.39 billion. For the next financial year, analysts expect that the firm will report sales of $1.35 billion per share, with estimates ranging from $933.50 million to $1.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Nextera Energy Partners.

Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings data on Friday, January 26th. The solar energy provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). The firm had revenue of $197.00 million for the quarter, compared to the consensus estimate of $251.41 million. Nextera Energy Partners had a negative net margin of 8.63% and a positive return on equity of 1.70%. During the same quarter in the prior year, the business posted ($0.23) earnings per share.

A number of research firms have weighed in on NEP. 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 objective for the company. Zacks Investment Research lowered 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 restated a “hold” rating and set a $39.00 price objective on shares of Nextera Energy Partners in a research note on Tuesday, October 10th. Morgan Stanley upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a research note on Tuesday, December 12th. Finally, Bank of America restated an “underperform” rating and set a $35.00 price objective on shares of Nextera Energy Partners in a research note on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Nextera Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $40.38.

Several hedge funds have recently made changes to their positions in NEP. Stratos Wealth Partners LTD. bought a new stake in shares of Nextera Energy Partners in the third quarter worth approximately $203,000. Stephens Inc. AR bought a new stake in shares of Nextera Energy Partners in the third quarter worth approximately $206,000. Cubist Systematic Strategies LLC bought a new stake in shares of Nextera Energy Partners in the third quarter worth approximately $260,000. EP Wealth Advisors LLC bought a new stake in shares of Nextera Energy Partners in the second quarter worth approximately $263,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Nextera Energy Partners by 66.7% in the third quarter. BNP Paribas Arbitrage SA now owns 8,000 shares of the solar energy provider’s stock worth $322,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 84.42% of the company’s stock.

Shares of Nextera Energy Partners (NYSE NEP) opened at $44.48 on Friday. The firm has a market cap of $2,438.61 and a PE ratio of -37.07. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20. Nextera Energy Partners has a 12 month low of $30.08 and a 12 month high of $45.38.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.64%. Nextera Energy Partners’s payout ratio is currently -130.83%.

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Nextera Energy Partners Company Profile

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.

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

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