$403.00 Million in Sales Expected for NextEra Energy Partners, LP (NYSE:NEP) This Quarter

Wall Street analysts predict that NextEra Energy Partners, LP (NYSE:NEPGet Rating) will announce sales of $403.00 million for the current quarter, according to Zacks. Five analysts have made estimates for NextEra Energy Partners’ earnings, with the highest sales estimate coming in at $516.27 million and the lowest estimate coming in at $281.80 million. NextEra Energy Partners posted sales of $253.00 million in the same quarter last year, which suggests a positive year over year growth rate of 59.3%. The company is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that NextEra Energy Partners will report full-year sales of $1.60 billion for the current financial year, with estimates ranging from $1.13 billion to $2.08 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.77 billion, with estimates ranging from $1.29 billion to $2.29 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for NextEra Energy Partners.

NextEra Energy Partners (NYSE:NEPGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. NextEra Energy Partners had a net margin of 15.13% and a return on equity of 1.58%. The firm had revenue of $281.00 million during the quarter, compared to the consensus estimate of $305.98 million. During the same period in the prior year, the firm earned $2.66 EPS. The business’s revenue was up 14.2% on a year-over-year basis.

Several brokerages have recently commented on NEP. TheStreet cut shares of NextEra Energy Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, January 25th. Royal Bank of Canada boosted their price objective on shares of 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. KeyCorp cut 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 research report on Wednesday, April 20th. Credit Suisse Group lowered their target price on shares of NextEra Energy Partners from $87.00 to $78.00 in a report on Wednesday, April 27th. Finally, StockNews.com upgraded shares of NextEra Energy Partners from a “sell” rating to a “hold” rating in a report on Sunday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.14.

A number of large investors have recently added to or reduced their stakes in NEP. BlackRock Inc. grew its stake in NextEra Energy Partners by 3,310.7% in the fourth quarter. BlackRock Inc. now owns 7,253,580 shares of the solar energy provider’s stock worth $612,202,000 after purchasing an additional 7,040,908 shares during the period. Beach Investment Counsel Inc. PA purchased a new stake in NextEra Energy Partners in the first quarter worth about $92,207,000. Royal Bank of Canada increased its position in NextEra Energy Partners by 277.3% in the third quarter. Royal Bank of Canada now owns 1,060,073 shares of the solar energy provider’s stock worth $79,886,000 after buying an additional 779,074 shares in the last quarter. ClearBridge Investments Ltd increased its position in NextEra Energy Partners by 94.8% in the first quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock worth $128,470,000 after buying an additional 750,144 shares in the last quarter. Finally, Eaton Vance Management grew its position in shares of NextEra Energy Partners by 46.2% during the first quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider’s stock worth $60,939,000 after purchasing an additional 231,102 shares in the last quarter. Institutional investors own 81.32% of the company’s stock.

Shares of NextEra Energy Partners stock opened at $65.54 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.60 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.50 billion, a P/E ratio of 75.33, a price-to-earnings-growth ratio of 2.62 and a beta of 0.93. NextEra Energy Partners has a 12-month low of $61.31 and a 12-month high of $88.80. The company has a 50-day simple moving average of $74.20 and a 200 day simple moving average of $77.91.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, May 5th were given a dividend of $0.7325 per share. This represents a $2.93 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend was Wednesday, May 4th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.71. NextEra Energy Partners’s dividend payout ratio (DPR) is 336.78%.

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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