NextEra Energy Partners (NYSE:NEP) Releases Quarterly Earnings Results, Misses Expectations By $0.94 EPS

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. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. During the same period last year, the company earned $0.57 earnings per share. NextEra Energy Partners’s revenue for the quarter was up 3.6% compared to the same quarter last year.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock traded up $0.24 during trading on Thursday, hitting $21.25. 659,755 shares of the stock traded hands, compared to its average volume of 1,433,227. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 6.89 and a beta of 1.06. 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 52 week low of $20.73 and a 52 week high of $35.15. The firm’s fifty day moving average is $25.61 and its 200-day moving average is $27.77.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James downgraded NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. BMO Capital Markets reduced their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday. UBS Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a research report on Thursday. Finally, Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.85.

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.