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

Brokerages predict that Nextera Energy Partners LP (NYSE:NEP) will report sales of $309.85 million for the current quarter, Zacks reports. Four analysts have made estimates for Nextera Energy Partners’ earnings. The highest sales estimate is $362.77 million and the lowest is $255.90 million. Nextera Energy Partners reported sales of $225.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 37.7%. The company is scheduled to announce its next earnings results on Wednesday, July 24th.

On average, analysts expect that Nextera Energy Partners will report full-year sales of $1.19 billion for the current fiscal year, with estimates ranging from $968.00 million to $1.43 billion. For the next financial year, analysts forecast that the firm will report sales of $1.44 billion, with estimates ranging from $1.20 billion to $1.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover 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 net margin of 12.24% and a return on equity of 2.17%. The company had revenue of $177.00 million for the quarter, compared to the consensus estimate of $316.31 million.

Several research firms have weighed in on NEP. Zacks Investment Research upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Wednesday. 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 raised their target price for the company from $45.00 to $49.00 in a report on Sunday, March 31st. Barclays lowered Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $49.00 target price on the stock. in a report on Thursday, March 7th. Finally, ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Nextera Energy Partners currently has an average rating of “Buy” and an average price target of $48.83.

Institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Nextera Energy Partners by 9.3% during the first quarter. Jennison Associates LLC now owns 3,245,942 shares of the solar energy provider’s stock valued at $151,391,000 after acquiring an additional 275,136 shares during the period. Millennium Management LLC increased its stake in Nextera Energy Partners by 5.2% during the fourth quarter. Millennium Management LLC now owns 135,372 shares of the solar energy provider’s stock valued at $5,828,000 after acquiring an additional 6,697 shares during the period. Gabelli Funds LLC increased its stake in Nextera Energy Partners by 5.7% during the first quarter. Gabelli Funds LLC now owns 112,000 shares of the solar energy provider’s stock valued at $5,224,000 after acquiring an additional 6,000 shares during the period. Stifel Financial Corp increased its stake in Nextera Energy Partners by 8.9% during the fourth quarter. Stifel Financial Corp now owns 48,869 shares of the solar energy provider’s stock valued at $2,108,000 after acquiring an additional 3,981 shares during the period. Finally, ETF Managers Group LLC increased its stake in Nextera Energy Partners by 10.4% during the first quarter. ETF Managers Group LLC now owns 3,652 shares of the solar energy provider’s stock valued at $170,000 after acquiring an additional 344 shares during the period. Institutional investors and hedge funds own 83.37% of the company’s stock.

NYSE NEP opened at $48.47 on Friday. Nextera Energy Partners has a fifty-two week low of $39.35 and a fifty-two week high of $50.66. The company’s 50-day moving average is $46.10. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 3.10 and a beta of 0.91.

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.

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

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