NextEra Energy Partners (NYSE:NEP) – Equities researchers at Oppenheimer dropped their Q2 2018 EPS estimates for shares of NextEra Energy Partners in a note issued to investors on Tuesday, April 24th. Oppenheimer analyst C. Rusch now expects that the solar energy provider will post earnings of $0.07 per share for the quarter, down from their previous forecast of $0.39. Oppenheimer also issued estimates for NextEra Energy Partners’ Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at ($0.27) EPS, FY2018 earnings at $0.65 EPS and FY2019 earnings at $1.90 EPS.

A number of other analysts have also recently commented on NEP. Zacks Investment Research raised NextEra Energy Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase lifted their price objective on NextEra Energy Partners from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday. ValuEngine upgraded NextEra Energy Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Bank of America upgraded NextEra Energy Partners from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $39.12 to $43.00 in a research note on Friday, March 16th. Finally, Guggenheim began coverage on NextEra Energy Partners in a research note on Tuesday, January 2nd. They set a “buy” rating and a $45.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. NextEra Energy Partners presently has a consensus rating of “Buy” and a consensus target price of $43.12.

Shares of NEP opened at $42.59 on Friday. NextEra Energy Partners has a one year low of $32.91 and a one year high of $45.38. The company has a quick ratio of 1.44, a current ratio of 1.30 and a debt-to-equity ratio of 1.17. The stock has a market cap of $2,258.36, a price-to-earnings ratio of 64.53, a PEG ratio of 1.90 and a beta of 1.21.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Tuesday, April 24th. The solar energy provider reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.81. NextEra Energy Partners had a positive return on equity of 4.38% and a negative net margin of 0.51%. The company had revenue of $212.00 million during the quarter, compared to analysts’ expectations of $273.98 million.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEP. Northern Trust Corp raised its stake in shares of NextEra Energy Partners by 19.8% during the 2nd quarter. Northern Trust Corp now owns 19,048 shares of the solar energy provider’s stock valued at $705,000 after buying an additional 3,154 shares during the last quarter. State Street Corp increased its stake in shares of NextEra Energy Partners by 8.3% in the 2nd quarter. State Street Corp now owns 59,566 shares of the solar energy provider’s stock valued at $2,202,000 after purchasing an additional 4,540 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of NextEra Energy Partners by 58.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 25,650 shares of the solar energy provider’s stock valued at $1,036,000 after purchasing an additional 9,431 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of NextEra Energy Partners in the 3rd quarter valued at about $260,000. Finally, California Public Employees Retirement System increased its stake in shares of NextEra Energy Partners by 8.8% in the 3rd quarter. California Public Employees Retirement System now owns 213,422 shares of the solar energy provider’s stock valued at $8,599,000 after purchasing an additional 17,322 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Monday, May 7th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.94%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.41. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 245.45%.

NextEra Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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

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