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

NextEra Energy Partners (NYSE:NEP) is scheduled to 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 that wish to listen to the company’s earnings conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business 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 Price Performance

NextEra Energy Partners stock opened at $25.25 on Tuesday. The business’s 50-day simple moving average is $25.69 and its 200 day simple moving average is $27.85. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 8.28 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 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 company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a $0.905 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 annualized dividend and a yield of 14.34%. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 118.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho decreased their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Raymond James cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. UBS Group reduced their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Finally, BMO Capital Markets reduced their target price on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NextEra Energy Partners presently has a consensus 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.