Wall Street brokerages predict that Nextera Energy Partners LP (NYSE:NEP) will announce $330.84 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Nextera Energy Partners’ earnings, with the lowest sales estimate coming in at $283.50 million and the highest estimate coming in at $385.52 million. Nextera Energy Partners posted sales of $178.00 million during the same quarter last year, which suggests a positive year over year growth rate of 85.9%. The business is expected to announce its next earnings results on Tuesday, October 22nd.
According to Zacks, analysts expect that Nextera Energy Partners will report full-year sales of $1.08 billion for the current fiscal year, with estimates ranging from $947.70 million to $1.27 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.38 billion, with estimates ranging from $1.20 billion to $1.62 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Nextera Energy Partners.
Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.97). Nextera Energy Partners had a negative return on equity of 0.44% and a negative net margin of 2.88%. The company had revenue of $219.00 million for the quarter, compared to the consensus estimate of $292.21 million.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Elmwood Wealth Management Inc. lifted its holdings in Nextera Energy Partners by 2.3% in the first quarter. Elmwood Wealth Management Inc. now owns 12,185 shares of the solar energy provider’s stock worth $568,000 after acquiring an additional 275 shares during the last quarter. ETF Managers Group LLC lifted its holdings in Nextera Energy Partners by 10.4% in the first quarter. ETF Managers Group LLC now owns 3,652 shares of the solar energy provider’s stock worth $170,000 after acquiring an additional 344 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Nextera Energy Partners by 113.1% in the first quarter. Global Retirement Partners LLC now owns 767 shares of the solar energy provider’s stock worth $36,000 after acquiring an additional 407 shares during the last quarter. Advisor Group Inc. lifted its holdings in Nextera Energy Partners by 11.6% in the second quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock worth $193,000 after acquiring an additional 414 shares during the last quarter. Finally, Boston Advisors LLC lifted its holdings in Nextera Energy Partners by 1.5% in the first quarter. Boston Advisors LLC now owns 34,675 shares of the solar energy provider’s stock worth $1,617,000 after acquiring an additional 513 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NEP stock traded down $0.02 during trading hours on Tuesday, hitting $49.09. 305,500 shares of the company were exchanged, compared to its average volume of 229,244. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.38 and a current ratio of 1.38. Nextera Energy Partners has a one year low of $39.35 and a one year high of $50.99. The business’s 50-day simple moving average is $49.34 and its two-hundred day simple moving average is $46.36. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 13.64 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a $0.502 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.01 dividend on an annualized basis and a yield of 4.09%. Nextera Energy Partners’s dividend payout ratio is currently 69.07%.
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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