NextEra Energy Partners (NEP) to Release Quarterly Earnings on Wednesday

NextEra Energy Partners (NYSE:NEP) will announce its earnings results before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.51 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, analysts expect NextEra Energy Partners to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $25.61 on Wednesday. The stock has a 50-day moving average price of $25.53 and a two-hundred day moving average price of $27.97. The company has a market capitalization of $2.40 billion, a PE ratio of 8.41 and a beta of 1.06. NextEra Energy Partners has a 12 month low of $21.57 and a 12 month high of $35.15. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.905 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 annualized dividend and a dividend yield of 14.14%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 118.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Mizuho lowered their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets decreased their price objective on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.54.

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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.