NextEra Energy Partners, LP (NYSE:NEP) posted its quarterly earnings data on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.19, MarketWatch Earnings reports. The business had revenue of $204 million during the quarter, compared to analyst estimates of $232.03 million. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%.
NextEra Energy Partners, (NEP) traded down 0.10% during mid-day trading on Friday, hitting $40.36. The stock had a trading volume of 92,533 shares. NextEra Energy Partners, has a one year low of $23.90 and a one year high of $41.49. The company has a 50 day moving average price of $37.77 and a 200-day moving average price of $33.72. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 22.22 and a beta of 1.26.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be given a $0.38 dividend. This is a positive change from NextEra Energy Partners,’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.77%. NextEra Energy Partners,’s payout ratio is presently 76.38%.
NEP has been the subject of a number of recent analyst reports. Deutsche Bank AG raised their price objective on NextEra Energy Partners, from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Barclays PLC restated an “overweight” rating and issued a $39.00 target price (up previously from $34.00) on shares of NextEra Energy Partners, in a research note on Sunday, April 23rd. UBS AG reiterated a “neutral” rating and set a $32.00 price objective (up previously from $31.00) on shares of NextEra Energy Partners, in a research note on Tuesday, April 25th. Zacks Investment Research lowered NextEra Energy Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Finally, Vetr lowered NextEra Energy Partners, from a “hold” rating to a “sell” rating and set a $33.00 price objective for the company. in a research note on Thursday, April 27th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. NextEra Energy Partners, has a consensus rating of “Buy” and a consensus price target of $38.57.
In other news, EVP Mark E. Hickson purchased 1,350 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were acquired at an average price of $37.51 per share, for a total transaction of $50,638.50. Following the completion of the acquisition, the executive vice president now directly owns 4,780 shares of the company’s stock, valued at $179,297.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Armando Pimentel, Jr. purchased 5,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were purchased at an average price of $38.23 per share, for a total transaction of $191,150.00. Following the acquisition, the insider now directly 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 owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP increased its position 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 last quarter. Osborn Williams & Donohoe LLC bought a new position in shares of NextEra Energy Partners, during the first quarter worth approximately $248,000. Berson & Corrado Investment Advisors LLC acquired a new stake in NextEra Energy Partners, during the first quarter valued at approximately $597,000. Doyle Wealth Management acquired a new stake in NextEra Energy Partners, during the first quarter valued at approximately $7,391,000. Finally, Glen Harbor Capital Management LLC increased its stake in NextEra Energy Partners, by 148.2% in the first quarter. Glen Harbor Capital Management LLC now owns 47,430 shares of the solar energy provider’s stock valued at $1,571,000 after buying an additional 28,322 shares in the last quarter. 85.26% of the stock is currently owned by hedge funds and other institutional investors.
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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