Brokerages predict that Nextera Energy Partners LP (NYSE:NEP) will announce $354.51 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Nextera Energy Partners’ earnings, with the highest sales estimate coming in at $385.52 million and the lowest estimate coming in at $323.50 million. Nextera Energy Partners posted sales of $178.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 99.2%. The company is expected to announce its next earnings results before the market opens on Tuesday, October 22nd.

According to Zacks, analysts expect that Nextera Energy Partners will report full-year sales of $1.11 billion for the current financial year, with estimates ranging from $958.00 million to $1.27 billion. For the next financial year, analysts expect that the business will post sales of $1.46 billion, with estimates ranging from $1.38 billion to $1.62 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Nextera Energy Partners.

Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.97). The business had revenue of $219.00 million for the quarter, compared to analyst estimates of $292.21 million. Nextera Energy Partners had a negative return on equity of 0.44% and a negative net margin of 2.88%.

A number of brokerages recently weighed in on NEP. Credit Suisse Group increased their price target on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Barclays upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $61.00 in a research note on Tuesday, October 8th. Zacks Investment Research upgraded shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price target for the company in a research note on Thursday, October 3rd. ValuEngine cut shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Co increased their price target on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $54.00.

Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its stake in shares of Nextera Energy Partners by 11.6% in the 2nd quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock worth $193,000 after acquiring an additional 414 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nextera Energy Partners by 12.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,007 shares of the solar energy provider’s stock worth $212,000 after acquiring an additional 443 shares during the period. Manchester Financial Inc. acquired a new stake in shares of Nextera Energy Partners in the 2nd quarter worth $27,000. LPL Financial LLC lifted its stake in shares of Nextera Energy Partners by 6.8% in the 2nd quarter. LPL Financial LLC now owns 13,273 shares of the solar energy provider’s stock worth $640,000 after acquiring an additional 848 shares during the period. Finally, AGF Investments LLC acquired a new stake in shares of Nextera Energy Partners in the 2nd quarter worth $49,000. Institutional investors own 80.45% of the company’s stock.

Shares of NYSE:NEP opened at $51.60 on Friday. The stock has a market cap of $2.85 billion, a P/E ratio of 17.73, a P/E/G ratio of 14.71 and a beta of 0.91. The firm has a fifty day moving average price of $51.51 and a 200 day moving average price of $48.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.38 and a quick ratio of 1.38. Nextera Energy Partners has a 1-year low of $39.35 and a 1-year high of $53.90.

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 Article: Trading Strategy Methods and Types

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.