Zacks: Brokerages Anticipate Nextera Energy Partners LP (NYSE:NEP) to Announce $0.42 EPS

Wall Street brokerages expect Nextera Energy Partners LP (NYSE:NEP) to report $0.42 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Nextera Energy Partners’ earnings. The lowest EPS estimate is $0.24 and the highest is $0.66. Nextera Energy Partners posted earnings of $1.43 per share in the same quarter last year, which would indicate a negative year over year growth rate of 70.6%. The business is scheduled to announce its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Nextera Energy Partners will report full-year earnings of $1.54 per share for the current year, with EPS estimates ranging from $0.86 to $3.03. For the next year, analysts anticipate that the business will report earnings of $2.11 per share, with EPS estimates ranging from $1.30 to $3.44. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Nextera Energy Partners.

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

Several equities analysts have recently issued reports on NEP shares. Goldman Sachs Group upgraded Nextera Energy Partners from a “neutral” rating to a “buy” rating and lifted their price target for the company from $45.00 to $49.00 in a research report on Sunday, March 31st. Zacks Investment Research upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday. ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Barclays cut Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $49.00 price target on the stock. in a research report on Thursday, March 7th. Finally, TheStreet upgraded Nextera Energy Partners from a “c+” rating to a “b-” rating in a research report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.83.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP grew its holdings in shares of Nextera Energy Partners by 4.0% in the 1st quarter. First Trust Advisors LP now owns 54,619 shares of the solar energy provider’s stock worth $2,547,000 after acquiring an additional 2,079 shares during the last quarter. FMR LLC grew its holdings in shares of Nextera Energy Partners by 20.8% in the 1st quarter. FMR LLC now owns 1,784,636 shares of the solar energy provider’s stock worth $83,236,000 after acquiring an additional 307,378 shares during the last quarter. Elmwood Wealth Management Inc. grew its holdings in shares of Nextera Energy Partners by 2.3% in the 1st quarter. Elmwood Wealth Management Inc. now owns 12,185 shares of the solar energy provider’s stock worth $568,000 after acquiring an additional 275 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Nextera Energy Partners in the 1st quarter worth $12,118,000. Finally, Monetary Management Group Inc. grew its holdings in shares of Nextera Energy Partners by 106.9% during the first quarter. Monetary Management Group Inc. now owns 27,000 shares of the solar energy provider’s stock valued at $1,259,000 after buying an additional 13,950 shares in the last quarter. Institutional investors and hedge funds own 83.37% of the company’s stock.

Shares of NEP stock opened at $48.25 on Wednesday. Nextera Energy Partners has a 1 year low of $39.35 and a 1 year high of $50.66. The firm has a market cap of $2.71 billion, a PE ratio of 16.58, a PEG ratio of 3.43 and a beta of 0.91. The firm’s fifty day moving average price is $46.18. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.57.

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

Featured Story: Understanding Specialty Certificates of Deposit

Get a free copy of the Zacks research report on Nextera Energy Partners (NEP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Nextera Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextera Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.