FY2024 Earnings Estimate for NEP Issued By Seaport Res Ptn

NextEra Energy Partners, LP (NYSE:NEP) – Stock analysts at Seaport Res Ptn decreased their FY2024 earnings estimates for NextEra Energy Partners in a research report issued to clients and investors on Monday, October 28th. Seaport Res Ptn analyst A. Storozynski now anticipates that the solar energy provider will earn $0.79 per share for the year, down from their prior estimate of $1.33. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $1.77 per share. Seaport Res Ptn also issued estimates for NextEra Energy Partners’ FY2025 earnings at $0.83 EPS, FY2026 earnings at $0.89 EPS, FY2027 earnings at $0.61 EPS and FY2028 earnings at $0.51 EPS.

NEP has been the subject of a number of other reports. Raymond James downgraded shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. UBS Group cut 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. Evercore ISI cut their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Finally, Mizuho cut their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $26.69.

NextEra Energy Partners Stock Down 0.5 %

Shares of NEP stock opened at $19.18 on Wednesday. NextEra Energy Partners has a one year low of $19.16 and a one year high of $35.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The stock has a fifty day moving average price of $25.21 and a 200 day moving average price of $27.53. The stock has a market cap of $1.79 billion, a P/E ratio of 8.83 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. NextEra Energy Partners’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS.

Institutional Trading of NextEra Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC increased its holdings in shares of NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of NextEra Energy Partners in the first quarter valued at approximately $36,000. FinTrust Capital Advisors LLC acquired a new stake in shares of NextEra Energy Partners in the first quarter valued at approximately $45,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in NextEra Energy Partners during the 1st quarter worth $48,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be issued a $0.9175 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 19.13%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 166.06%.

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.