What is Zacks Research’s Estimate for NEP FY2024 Earnings?

NextEra Energy Partners, LP (NYSE:NEP) – Stock analysts at Zacks Research lifted their FY2024 earnings estimates for shares of NextEra Energy Partners in a research report issued to clients and investors on Tuesday, January 14th. Zacks Research analyst J. Saha now expects that the solar energy provider will post earnings per share of $1.35 for the year, up from their prior estimate of $1.27. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $2.04 per share. Zacks Research also issued estimates for NextEra Energy Partners’ Q1 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $1.49 EPS, Q1 2026 earnings at $0.21 EPS, Q2 2026 earnings at $0.37 EPS, Q4 2026 earnings at $0.50 EPS and FY2026 earnings at $1.50 EPS.

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

Several other research firms have also recently commented on NEP. BNP Paribas started coverage on NextEra Energy Partners in a research note on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price for the company. Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research note on Monday, December 2nd. Jefferies Financial Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Evercore ISI reduced their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, CIBC lowered their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.64.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $16.88 on Thursday. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The business has a 50 day moving average price of $17.54 and a two-hundred day moving average price of $22.49. The firm has a market cap of $1.58 billion, a PE ratio of 7.74 and a beta of 1.06.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a yield of 21.75%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 168.35%.

Institutional Trading of NextEra Energy Partners

A number of large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in NextEra Energy Partners by 150.4% during the 2nd 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 during the period. EverSource Wealth Advisors LLC acquired a new position in shares of NextEra Energy Partners during the second quarter worth approximately $51,000. Eastern Bank bought a new position in NextEra Energy Partners in the 3rd quarter worth approximately $57,000. McIlrath & Eck LLC acquired a new stake in NextEra Energy Partners in the 3rd quarter valued at approximately $63,000. Finally, Central Pacific Bank Trust Division raised its stake in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after acquiring an additional 3,750 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.