NextEra Energy Partners (NYSE:NEP) Releases Quarterly Earnings Results, Beats Expectations By $0.55 EPS

NextEra Energy Partners (NYSE:NEP) released its earnings results on Monday. The solar energy provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.55, MarketWatch Earnings reports. The firm had revenue of $212.00 million for the quarter, compared to analyst estimates of $352.54 million. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS.

NYSE NEP traded down $4.17 on Wednesday, reaching $76.75. The company’s stock had a trading volume of 1,427,061 shares, compared to its average volume of 1,249,483. The firm has a market cap of $5.60 billion, a PE ratio of -53.30, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The business has a 50-day moving average price of $72.67 and a 200 day moving average price of $64.51. NextEra Energy Partners has a 52 week low of $29.01 and a 52 week high of $88.29. The company has a current ratio of 1.32, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Friday, February 5th will be paid a $0.615 dividend. The ex-dividend date of this dividend is Thursday, February 4th. This represents a $2.46 dividend on an annualized basis and a yield of 3.21%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.60. NextEra Energy Partners’s payout ratio is presently -157.62%.

NEP has been the subject of a number of research analyst reports. Vertical Research raised shares of NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Friday, October 16th. Mizuho boosted their target price on shares of NextEra Energy Partners from $57.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, January 11th. Raymond James boosted their target price on shares of NextEra Energy Partners from $73.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, January 8th. Oppenheimer boosted their target price on shares of NextEra Energy Partners from $66.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Finally, Zacks Investment Research lowered shares of NextEra Energy Partners from a “hold” rating to a “strong sell” rating and set a $57.00 price objective for the company. in a research report on Tuesday, January 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. NextEra Energy Partners currently has a consensus rating of “Buy” and an average price target of $70.85.

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 and solar projects, as well as contracted natural gas pipeline assets. The company was founded in 2014 and is headquartered in Juno Beach, Florida.

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Earnings History for NextEra Energy Partners (NYSE:NEP)

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