FY2024 Earnings Forecast for NEP Issued By Zacks Research

NextEra Energy Partners, LP (NYSE:NEP) – Zacks Research lowered their FY2024 earnings per share estimates for shares of NextEra Energy Partners in a research report issued on Wednesday, November 13th. Zacks Research analyst J. Saha now forecasts that the solar energy provider will earn $1.27 per share for the year, down from their prior estimate of $1.85. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $1.36 per share. Zacks Research also issued estimates for NextEra Energy Partners’ Q4 2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.21 EPS, Q1 2026 earnings at $0.03 EPS, Q3 2026 earnings at $0.33 EPS and FY2026 earnings at $0.94 EPS.

Several other brokerages have also recently weighed in on NEP. CIBC decreased their price objective on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Evercore ISI decreased their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Mizuho cut their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. BMO Capital Markets reduced their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy Partners presently has a consensus rating of “Hold” and an average target price of $26.69.

NextEra Energy Partners Trading Down 2.4 %

Shares of NextEra Energy Partners stock opened at $16.04 on Monday. NextEra Energy Partners has a 12-month low of $15.55 and a 12-month high of $35.15. The stock has a market capitalization of $1.50 billion, a P/E ratio of 7.35 and a beta of 1.10. The company has a 50-day simple moving average of $23.42 and a 200 day simple moving average of $26.61. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the prior year, the company earned $0.57 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year.

Institutional Trading of NextEra Energy Partners

Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after buying an additional 1,000 shares during the period. EverSource Wealth Advisors LLC bought a new position in NextEra Energy Partners during the second quarter worth about $51,000. Eastern Bank acquired a new position in NextEra Energy Partners in the third quarter valued at about $57,000. Central Bank & Trust Co. bought a new stake in shares of NextEra Energy Partners in the second quarter worth about $99,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of NextEra Energy Partners during the second quarter worth about $104,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a yield of 22.89%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 168.35%.

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.