$354.51 Million in Sales Expected for Nextera Energy Partners LP (NYSE:NEP) This Quarter
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%.
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.
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