NextEra Energy Partners, LP (NYSE:NEP) - Oppenheimer Holdings lowered their FY2018 earnings per share (EPS) estimates for NextEra Energy Partners, in a research note issued on Wednesday. Oppenheimer Holdings analyst C. Rusch now anticipates that the solar energy provider will earn $1.14 per share for the year, down from their prior forecast of $2.12. Oppenheimer Holdings also issued estimates for NextEra Energy Partners,’s FY2019 earnings at $1.80 EPS.
Several other research firms also recently commented on NEP. BMO Capital Markets boosted their price target on shares of NextEra Energy Partners, from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday. TheStreet upgraded shares of NextEra Energy Partners, from a “c-” rating to a “b” rating in a research note on Wednesday, July 26th. Deutsche Bank AG restated a “buy” rating and issued a $42.00 price target (up previously from $39.00) on shares of NextEra Energy Partners, in a research note on Thursday. Zacks Investment Research downgraded shares of NextEra Energy Partners, from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $38.00 price target (up previously from $34.00) on shares of NextEra Energy Partners, in a research note on Friday, July 7th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. NextEra Energy Partners, currently has a consensus rating of “Buy” and an average target price of $38.57.
NextEra Energy Partners, (NYSE:NEP) last posted its earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.19. The company had revenue of $204 million for the quarter, compared to analysts’ expectations of $232.03 million. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%.
A number of large investors have recently made changes to their positions in the stock. Two Sigma Investments LP boosted its stake in shares of NextEra Energy Partners, by 4.0% in the fourth quarter. Two Sigma Investments LP now owns 13,785 shares of the solar energy provider’s stock worth $352,000 after buying an additional 528 shares during the period. Clinton Group Inc. boosted its stake in shares of NextEra Energy Partners, by 2.5% in the first quarter. Clinton Group Inc. now owns 30,895 shares of the solar energy provider’s stock worth $1,024,000 after buying an additional 765 shares during the period. Credit Suisse AG boosted its stake in shares of NextEra Energy Partners, by 1.8% in the first quarter. Credit Suisse AG now owns 44,883 shares of the solar energy provider’s stock worth $1,487,000 after buying an additional 772 shares during the period. Berson & Corrado Investment Advisors LLC boosted its stake in shares of NextEra Energy Partners, by 5.7% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 19,064 shares of the solar energy provider’s stock worth $705,000 after buying an additional 1,030 shares during the period. Finally, MAI Capital Management boosted its stake in shares of NextEra Energy Partners, by 3.4% in the first quarter. MAI Capital Management now owns 113,459 shares of the solar energy provider’s stock worth $3,759,000 after buying an additional 3,711 shares during the period. 85.26% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Mark E. Hickson purchased 1,350 shares of NextEra Energy Partners, stock in a transaction that occurred on Wednesday, July 5th. The stock was purchased at an average cost of $37.51 per share, with a total value of $50,638.50. Following the completion of the transaction, the executive vice president now directly owns 4,780 shares in the company, valued at $179,297.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Armando Pimentel, Jr. purchased 5,000 shares of NextEra Energy Partners, stock in a transaction that occurred on Friday, July 14th. The stock was bought at an average cost of $38.23 per share, with a total value of $191,150.00. Following the completion of the transaction, the insider now owns 20,000 shares of the company’s stock, valued at $764,600. The disclosure for this purchase can be found here. 0.46% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be given a dividend of $0.38 per share. This is a boost from NextEra Energy Partners,’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, August 3rd. NextEra Energy Partners,’s payout ratio is 73.37%.
NextEra Energy Partners, Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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