NextEra Energy Partners (NEP) Scheduled to Post Quarterly Earnings on Wednesday

NextEra Energy Partners (NYSE:NEP) will release its earnings data before the market opens on Wednesday, October 23rd. Analysts expect NextEra Energy Partners to post earnings of $0.51 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, analysts expect NextEra Energy Partners to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $26.19 on Monday. The firm has a market cap of $2.45 billion, a PE ratio of 8.59 and a beta of 1.06. NextEra Energy Partners has a 12 month low of $21.83 and a 12 month high of $35.15. The company’s fifty day simple moving average is $25.67 and its 200-day simple moving average is $27.88. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.905 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.82%. NextEra Energy Partners’s payout ratio is 118.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NEP shares. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $38.00 to $30.00 in a research note on Monday, July 1st. Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.54.

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.