What is Seaport Res Ptn’s Forecast for NEP FY2024 Earnings?

NextEra Energy Partners, LP (NYSE:NEP) – Seaport Res Ptn dropped their FY2024 EPS estimates for NextEra Energy Partners in a report released on Tuesday, October 22nd. Seaport Res Ptn analyst A. Storozynski now anticipates that the solar energy provider will post earnings per share of $1.33 for the year, down from their prior forecast of $1.34. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $2.20 per share. Seaport Res Ptn also issued estimates for NextEra Energy Partners’ FY2026 earnings at $0.67 EPS and FY2028 earnings at $0.29 EPS.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year.

Other equities research analysts also recently issued reports about the company. BNP Paribas started coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target for the company. Barclays reiterated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Raymond James cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. UBS Group decreased their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Finally, StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.15.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $21.01 on Wednesday. NextEra Energy Partners has a one year low of $20.82 and a one year high of $35.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The stock has a market cap of $1.97 billion, a PE ratio of 6.89 and a beta of 1.06. The stock has a 50-day moving average of $25.61 and a 200-day moving average of $27.77.

Institutional Trading of NextEra Energy Partners

A number of institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new position in NextEra Energy Partners in the first quarter valued at about $83,069,000. Commerce Bank acquired a new stake in shares of NextEra Energy Partners during the 1st quarter worth approximately $15,597,000. Swedbank AB bought a new position in NextEra Energy Partners in the first quarter valued at approximately $9,927,000. ClearBridge Investments Ltd raised its position in NextEra Energy Partners by 6.4% during the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after purchasing an additional 250,456 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in NextEra Energy Partners during the second quarter worth $5,452,000. 66.01% of the stock is currently owned by institutional investors.

NextEra Energy Partners Company Profile

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.