Nextera Energy Partners LP (NEP) Expected to Announce Quarterly Sales of $283.71 Million

Wall Street analysts predict that Nextera Energy Partners LP (NYSE:NEP) will announce $283.71 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Nextera Energy Partners’ earnings, with the lowest sales estimate coming in at $265.58 million and the highest estimate coming in at $319.64 million. Nextera Energy Partners posted sales of $175.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 62.1%. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Nextera Energy Partners will report full-year sales of $1.14 billion for the current financial year, with estimates ranging from $785.00 million to $1.39 billion. For the next financial year, analysts forecast that the company will post sales of $1.29 billion per share, with estimates ranging from $875.00 million to $1.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Nextera Energy Partners.

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Nextera Energy Partners (NYSE:NEP) last released its earnings results on Friday, January 26th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.07). The firm had revenue of $197.00 million during the quarter, compared to the consensus estimate of $251.41 million. Nextera Energy Partners had a positive return on equity of 1.80% and a negative net margin of 8.63%. During the same quarter last year, the business posted ($0.23) EPS.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. ValuEngine raised shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Guggenheim assumed coverage on shares of Nextera Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase reduced their price target on shares of Nextera Energy Partners from $40.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Bank of America raised shares of Nextera Energy Partners from an “underperform” rating to a “buy” rating and raised their price target for the stock from $39.12 to $43.00 in a research note on Friday, March 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Nextera Energy Partners currently has a consensus rating of “Buy” and an average target price of $42.03.

A number of hedge funds and other institutional investors have recently bought and sold shares of NEP. Public Employees Retirement Association of Colorado purchased a new position in Nextera Energy Partners during the 4th quarter valued at about $105,000. Teachers Advisors LLC increased its position in Nextera Energy Partners by 181.3% during the 4th quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock valued at $119,000 after purchasing an additional 1,777 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Nextera Energy Partners during the 3rd quarter valued at about $260,000. BNP Paribas Arbitrage SA grew its position in shares of Nextera Energy Partners by 66.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 8,000 shares of the solar energy provider’s stock worth $322,000 after buying an additional 3,200 shares during the last quarter. Finally, HBK Investments L P grew its position in shares of Nextera Energy Partners by 34.4% in the 4th quarter. HBK Investments L P now owns 12,498 shares of the solar energy provider’s stock worth $539,000 after buying an additional 3,198 shares during the last quarter. 83.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nextera Energy Partners stock traded up $0.18 during trading on Wednesday, hitting $38.47. The stock had a trading volume of 129,108 shares, compared to its average volume of 221,943. The firm has a market capitalization of $2,077.27, a PE ratio of 58.29, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.54. Nextera Energy Partners has a 12 month low of $31.78 and a 12 month high of $45.38.

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About Nextera Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

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Earnings History and Estimates for Nextera Energy Partners (NYSE:NEP)

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