Nextera Energy Partners LP (NEP) Expected to Post Quarterly Sales of $260.21 Million

Equities analysts expect that Nextera Energy Partners LP (NYSE:NEP) will report $260.21 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Nextera Energy Partners’ earnings, with estimates ranging from $195.10 million to $319.64 million. Nextera Energy Partners reported sales of $175.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 48.7%. The business is scheduled to announce its next quarterly 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 anticipate that the firm will report sales of $1.35 billion per share, with estimates ranging from $933.50 million to $1.57 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Nextera Energy Partners.

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

Several brokerages have weighed in on NEP. Zacks Investment Research downgraded Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Guggenheim began coverage on Nextera Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 target price on the stock. Morgan Stanley upgraded Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research note on Tuesday, December 12th. Credit Suisse Group began coverage on Nextera Energy Partners in a research note on Thursday, December 7th. They issued an “outperform” rating and a $44.00 target price on the stock. Finally, TheStreet downgraded Nextera Energy Partners from a “b” rating to a “c+” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. Nextera Energy Partners has a consensus rating of “Hold” and a consensus target price of $40.38.

Shares of Nextera Energy Partners (NYSE NEP) traded down $1.76 during mid-day trading on Friday, hitting $41.14. The company’s stock had a trading volume of 361,396 shares, compared to its average volume of 322,117. Nextera Energy Partners has a one year low of $30.08 and a one year high of $45.38. The stock has a market cap of $2,250.00, a P/E ratio of -34.53, a P/E/G ratio of 1.93 and a beta of 1.16. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 2.04.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be issued a $0.405 dividend. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, February 2nd. Nextera Energy Partners’s dividend payout ratio (DPR) is currently -135.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement Association of Colorado acquired a new stake in shares of Nextera Energy Partners in the 4th quarter valued at approximately $105,000. MAI Capital Management lifted its holdings in shares of Nextera Energy Partners by 3.4% in the 4th quarter. MAI Capital Management now owns 85,447 shares of the solar energy provider’s stock valued at $3,684,000 after buying an additional 2,807 shares during the period. Northern Trust Corp lifted its holdings in shares of Nextera Energy Partners by 19.8% in the 2nd quarter. Northern Trust Corp now owns 19,048 shares of the solar energy provider’s stock valued at $705,000 after buying an additional 3,154 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Nextera Energy Partners by 66.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,000 shares of the solar energy provider’s stock valued at $322,000 after buying an additional 3,200 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Nextera Energy Partners by 1.9% in the 2nd quarter. California Public Employees Retirement System now owns 196,100 shares of the solar energy provider’s stock valued at $7,254,000 after buying an additional 3,700 shares during the period. 84.74% of the stock is owned by institutional investors and hedge funds.

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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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