NextEra Energy Partners (NYSE:NEP) Announces Earnings Results, Beats Estimates By $0.63 EPS

NextEra Energy Partners (NYSE:NEP) posted its quarterly earnings data on Tuesday. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63, Briefing.com reports. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. During the same quarter in the previous year, the business earned ($0.17) EPS. NextEra Energy Partners’s revenue was up 4.9% compared to the same quarter last year.

NextEra Energy Partners Stock Up 4.6 %

NextEra Energy Partners stock opened at $28.71 on Wednesday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 13.48 and a beta of 1.00. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $64.43. The business’s 50-day moving average price is $28.27 and its 200 day moving average price is $27.30. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Evercore ISI began coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 target price for the company. Raymond James decreased their target price on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Tuesday, January 9th. Finally, Barclays began coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.88.

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.