NextEra Energy Partners (NEP) to Release Quarterly Earnings on Tuesday

NextEra Energy Partners (NYSE:NEP) is scheduled to post its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect NextEra Energy Partners to post earnings of $0.17 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The firm had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $360.03 million. On average, analysts expect NextEra Energy Partners to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

NextEra Energy Partners Stock Down 1.7 %

Shares of NYSE:NEP opened at $27.07 on Tuesday. The stock’s 50-day moving average is $28.39 and its 200 day moving average is $27.20. The company has a market cap of $2.53 billion, a PE ratio of 12.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. NextEra Energy Partners has a 1 year low of $20.17 and a 1 year high of $64.43.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were given a $0.88 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a dividend yield of 13.00%. The ex-dividend date was Monday, February 5th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 165.26%.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors have recently modified their holdings of the stock. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of NextEra Energy Partners during the first quarter valued at approximately $36,000. Parkside Financial Bank & Trust lifted its position in NextEra Energy Partners by 40.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider’s stock valued at $44,000 after acquiring an additional 216 shares in the last quarter. Lazard Asset Management LLC boosted its stake in NextEra Energy Partners by 69.6% during the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after purchasing an additional 224 shares during the last quarter. State of Wyoming increased its holdings in shares of NextEra Energy Partners by 28.2% in the 2nd quarter. State of Wyoming now owns 1,137 shares of the solar energy provider’s stock worth $67,000 after purchasing an additional 250 shares in the last quarter. Finally, Castleview Partners LLC raised its stake in shares of NextEra Energy Partners by 623.9% in the first quarter. Castleview Partners LLC now owns 1,180 shares of the solar energy provider’s stock worth $72,000 after purchasing an additional 1,017 shares during the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on NEP. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Tuesday, January 9th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Evercore ISI started coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price objective on the stock. Finally, Raymond James decreased their target price on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and an average price target of $45.53.

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.