Zacks Research Issues Optimistic Forecast for NEP Earnings

NextEra Energy Partners, LP (NYSE:NEP) – Zacks Research upped their Q4 2024 earnings estimates for NextEra Energy Partners in a research report issued to clients and investors on Tuesday, January 14th. Zacks Research analyst J. Saha now expects that the solar energy provider will post earnings of $0.37 per share for the quarter, up from their prior estimate of $0.29. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $1.96 per share. Zacks Research also issued estimates for NextEra Energy Partners’ Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.33 EPS and Q3 2026 earnings at $0.41 EPS.

NEP has been the topic of a number of other research reports. UBS Group decreased their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Monday, December 2nd. Scotiabank reduced their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets reissued a “market perform” rating and issued a $18.00 price objective (down previously from $26.00) on shares of NextEra Energy Partners in a research note on Monday. Finally, Jefferies Financial Group reduced their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.64.

NextEra Energy Partners Stock Down 0.1 %

Shares of NEP opened at $16.77 on Wednesday. NextEra Energy Partners has a one year low of $15.55 and a one year high of $35.15. The company has a market cap of $1.57 billion, a P/E ratio of 7.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The firm has a 50 day simple moving average of $17.57 and a two-hundred day simple moving average of $22.53.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm 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 firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners in the second quarter worth about $51,000. Eastern Bank purchased a new stake in NextEra Energy Partners in the third quarter worth about $57,000. McIlrath & Eck LLC purchased a new stake in NextEra Energy Partners in the third quarter worth about $63,000. Finally, Central Pacific Bank Trust Division grew its holdings in NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after purchasing an additional 3,750 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were given a dividend of $0.9175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $3.67 annualized dividend and a dividend yield of 21.88%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is currently 168.35%.

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.