NextEra Energy Partners (NYSE:NEP) Announces Quarterly Earnings Results

NextEra Energy Partners (NYSE:NEP) released its quarterly earnings results on Wednesday. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94), Briefing.com reports. The firm had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 EPS.

NextEra Energy Partners Stock Down 0.1 %

Shares of NEP traded down $0.03 during trading hours on Thursday, reaching $20.98. The company’s stock had a trading volume of 2,286,484 shares, compared to its average volume of 1,440,424. 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 has a 1-year low of $20.63 and a 1-year high of $35.15. The company has a 50 day moving average of $25.61 and a two-hundred day moving average of $27.77. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 6.86 and a beta of 1.06.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Evercore ISI decreased their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday. Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Finally, CIBC decreased their price objective on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, NextEra Energy Partners currently has a consensus rating of “Hold” and an average target price of $27.85.

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.