Brokerages Anticipate Nextera Energy Partners LP (NYSE:NEP) Will Post Quarterly Sales of $309.85 Million

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Analysts expect Nextera Energy Partners LP (NYSE:NEP) to announce sales of $309.85 million for the current quarter, according to Zacks. Four analysts have made estimates for Nextera Energy Partners’ earnings, with the highest sales estimate coming in at $362.77 million and the lowest estimate coming in at $255.90 million. Nextera Energy Partners posted sales of $225.00 million during the same quarter last year, which suggests a positive year over year growth rate of 37.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Nextera Energy Partners will report full-year sales of $1.19 billion for the current financial year, with estimates ranging from $968.00 million to $1.43 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.44 billion, with estimates ranging from $1.20 billion to $1.73 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Nextera Energy Partners.

Nextera Energy Partners (NYSE:NEP) last posted its earnings results on Tuesday, April 23rd. The solar energy provider reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.90). Nextera Energy Partners had a return on equity of 2.17% and a net margin of 12.24%. The company had revenue of $177.00 million during the quarter, compared to analyst estimates of $316.31 million.

NEP has been the subject of several analyst reports. TheStreet upgraded Nextera Energy Partners from a “c+” rating to a “b-” rating in a report on Monday, March 25th. Goldman Sachs Group upgraded Nextera Energy Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $49.00 in a report on Sunday, March 31st. ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. Zacks Investment Research upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, February 12th. Finally, Barclays lowered Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $49.00 target price for the company. in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.28.

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC lifted its holdings in shares of Nextera Energy Partners by 113.1% during the first quarter. Global Retirement Partners LLC now owns 767 shares of the solar energy provider’s stock worth $36,000 after buying an additional 407 shares during the last quarter. Private Capital Group LLC acquired a new position in shares of Nextera Energy Partners during the first quarter worth approximately $36,000. Flagship Harbor Advisors LLC lifted its holdings in shares of Nextera Energy Partners by 286.4% during the first quarter. Flagship Harbor Advisors LLC now owns 966 shares of the solar energy provider’s stock worth $45,000 after buying an additional 716 shares during the last quarter. Cypress Capital Management LLC WY acquired a new position in shares of Nextera Energy Partners during the fourth quarter worth approximately $51,000. Finally, Legal & General Group Plc lifted its holdings in shares of Nextera Energy Partners by 136.2% during the fourth quarter. Legal & General Group Plc now owns 1,424 shares of the solar energy provider’s stock worth $61,000 after buying an additional 821 shares during the last quarter. Institutional investors own 83.37% of the company’s stock.

NEP traded up $0.32 on Wednesday, hitting $45.62. The company had a trading volume of 176,200 shares, compared to its average volume of 284,218. Nextera Energy Partners has a 1-year low of $39.35 and a 1-year high of $50.66. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $2.57 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 3.35 and a beta of 0.90.

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were issued a $0.4825 dividend. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.47. This represents a $1.93 annualized dividend and a yield of 4.23%. The ex-dividend date was Monday, May 6th. Nextera Energy Partners’s payout ratio is 66.32%.

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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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

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