NextEra Energy Partners (NYSE:NEP) Posts Quarterly Earnings Results, Beats Expectations By $2.24 EPS

NextEra Energy Partners (NYSE:NEPGet Rating) issued its earnings results on Friday. The solar energy provider reported $2.61 EPS for the quarter, beating the consensus estimate of $0.37 by $2.24, RTT News reports. NextEra Energy Partners had a return on equity of 4.40% and a net margin of 39.66%. The business had revenue of $362.00 million for the quarter, compared to the consensus estimate of $345.09 million. During the same period last year, the business posted ($0.97) EPS. The company’s revenue was up 43.1% compared to the same quarter last year.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $77.22 on Monday. NextEra Energy Partners has a one year low of $61.31 and a one year high of $88.80. The stock’s fifty day moving average is $72.48 and its 200 day moving average is $74.23. The stock has a market cap of $6.48 billion, a P/E ratio of 17.35, a P/E/G ratio of 2.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.55 and a current ratio of 1.60.

Wall Street Analysts Forecast Growth

NEP has been the topic of several recent analyst reports. Royal Bank of Canada upgraded NextEra Energy Partners from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $86.00 to $89.00 in a research note on Friday, June 17th. TheStreet raised NextEra Energy Partners from a “c” rating to a “b-” rating in a report on Thursday, June 30th. StockNews.com raised NextEra Energy Partners from a “sell” rating to a “hold” rating in a report on Sunday, April 3rd. CIBC began coverage on NextEra Energy Partners in a report on Thursday, June 9th. They set a “neutral” rating and a $79.00 price target on the stock. Finally, Credit Suisse Group lowered their price target on NextEra Energy Partners from $78.00 to $74.00 and set an “outperform” rating on the stock in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.29.

Institutional Investors Weigh In On NextEra Energy Partners

Institutional investors have recently bought and sold shares of the business. First Manhattan Co. increased its stake in NextEra Energy Partners by 53.0% in the 1st quarter. First Manhattan Co. now owns 19,616 shares of the solar energy provider’s stock worth $1,635,000 after buying an additional 6,795 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its stake in NextEra Energy Partners by 10.6% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 16,481 shares of the solar energy provider’s stock worth $1,022,000 after buying an additional 1,575 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in NextEra Energy Partners by 43.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock worth $790,000 after buying an additional 2,858 shares in the last quarter. Hsbc Holdings PLC increased its stake in NextEra Energy Partners by 146.3% in the 1st quarter. Hsbc Holdings PLC now owns 7,311 shares of the solar energy provider’s stock worth $614,000 after buying an additional 4,343 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in NextEra Energy Partners by 2.9% in the 1st quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock worth $594,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 81.32% of the company’s stock.

About NextEra Energy Partners

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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, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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Earnings History for NextEra Energy Partners (NYSE:NEP)

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