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

NextEra Energy Partners (NYSE:NEP) will post its quarterly earnings results 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 listening to the company’s earnings conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. 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 Down 3.6 %

Shares of NEP stock opened at $25.25 on Tuesday. NextEra Energy Partners has a 12 month low of $21.83 and a 12 month high of $35.15. The firm has a market cap of $2.36 billion, a PE ratio of 8.28 and a beta of 1.06. The stock has a 50 day moving average of $25.69 and a 200-day moving average of $27.85. 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. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.905 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a dividend yield of 14.34%. NextEra Energy Partners’s payout ratio is 118.69%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Raymond James cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Mizuho lowered their price objective on 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. Finally, StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.38.

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, 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.