NextEra Energy Partners (NYSE:NEP) Issues Quarterly Earnings Results, Beats Expectations By $1.32 EPS

NextEra Energy Partners (NYSE:NEP – Get Rating) issued its quarterly earnings data on Thursday. The solar energy provider reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $1.32, Briefing.com reports. NextEra Energy Partners had a return on equity of 2.37% and a net margin of 21.57%. The business had revenue of $281.00 million during the quarter, compared to analyst estimates of $305.98 million. During the same period in the previous year, the firm earned $2.66 EPS. NextEra Energy Partners’s quarterly revenue was up 14.2% compared to the same quarter last year.

Shares of NYSE NEP opened at $74.99 on Thursday. The business’s 50 day moving average price is $78.37 and its two-hundred day moving average price is $79.92. The company has a market cap of $6.30 billion, a PE ratio of 41.43, a price-to-earnings-growth ratio of 3.14 and a beta of 0.82. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 0.49. NextEra Energy Partners has a twelve month low of $63.59 and a twelve month high of $88.80.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 14th. Shareholders of record on Friday, February 4th were given a dividend of $0.7075 per share. This represents a $2.83 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Thursday, February 3rd. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.69. NextEra Energy Partners’s payout ratio is 156.35%.

Institutional investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new stake in NextEra Energy Partners during the 4th quarter valued at $212,000. Virtu Financial LLC acquired a new position in NextEra Energy Partners in the 4th quarter valued at about $259,000. Toroso Investments LLC grew its stake in NextEra Energy Partners by 11.1% in the 4th quarter. Toroso Investments LLC now owns 3,459 shares of the solar energy provider’s stock valued at $292,000 after buying an additional 346 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in NextEra Energy Partners by 6.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,574 shares of the solar energy provider’s stock valued at $420,000 after buying an additional 352 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its stake in NextEra Energy Partners by 40.4% in the 4th quarter. Vident Investment Advisory LLC now owns 5,571 shares of the solar energy provider’s stock valued at $470,000 after buying an additional 1,603 shares during the last quarter. 80.38% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. Wells Fargo & Company decreased their price objective on NextEra Energy Partners from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, January 26th. TheStreet cut NextEra Energy Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, January 25th. Royal Bank of Canada upped their price objective on NextEra Energy Partners from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 23rd. Raymond James downgraded shares of NextEra Energy Partners from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 5th. Finally, KeyCorp lowered their price objective on shares of NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $91.00.

NextEra Energy Partners Company Profile (Get Rating)

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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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