NextEra Energy Partners (NYSE:NEP) Posts Earnings Results, Beats Expectations By $0.63 EPS

NextEra Energy Partners (NYSE:NEP) posted its quarterly earnings data on Monday. The solar energy provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63, Briefing.com reports. The business had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) earnings per share.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $29.62 on Thursday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 9.71 and a beta of 1.00. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $63.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. The business’s 50-day simple moving average is $28.29 and its 200-day simple moving average is $27.35.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.8925 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 annualized dividend and a dividend yield of 12.05%. The ex-dividend date of this dividend is Monday, May 6th. NextEra Energy Partners’s payout ratio is currently 115.41%.

Analyst Ratings Changes

NEP has been the topic of a number of analyst reports. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Tuesday, January 9th. Evercore ISI assumed coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. increased their target price on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Barclays assumed coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 target price on the stock. Finally, Oppenheimer reiterated a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $43.88.

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.