NextEra Energy Partners, LP (NEP) Releases Earnings Results, Misses Expectations By $0.19 EPS

NextEra Energy Partners, LP (NYSE:NEP) issued its earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.19, MarketWatch Earnings reports. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%. The company had revenue of $204 million for the quarter, compared to analyst estimates of $232.03 million.

Shares of NextEra Energy Partners, (NYSE NEP) traded down 0.63% during midday trading on Tuesday, reaching $39.35. 22,709 shares of the company were exchanged. NextEra Energy Partners, has a 52-week low of $23.90 and a 52-week high of $41.49. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 21.67 and a beta of 1.26. The company’s 50-day moving average price is $38.73 and its 200 day moving average price is $34.44.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.52 dividend on an annualized basis and a yield of 3.84%. This is an increase from NextEra Energy Partners,’s previous quarterly dividend of $0.37. NextEra Energy Partners,’s dividend payout ratio (DPR) is presently 76.38%.

In related news, EVP Mark E. Hickson acquired 1,350 shares of NextEra Energy Partners, stock in a transaction 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 approximately $179,297.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Armando Pimentel, Jr. bought 5,000 shares of NextEra Energy Partners, stock in a transaction dated Friday, July 14th. The stock was acquired at an average cost of $38.23 per share, with a total value of $191,150.00. Following the transaction, the insider now owns 20,000 shares of the company’s stock, valued at approximately $764,600. The disclosure for this purchase can be found here. Company insiders own 0.46% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in NextEra Energy Partners, by 8.3% in the second quarter. State Street Corp now owns 59,566 shares of the solar energy provider’s stock valued at $2,202,000 after buying an additional 4,540 shares in the last quarter. Janus Henderson Group PLC acquired a new position in NextEra Energy Partners, during the second quarter worth about $17,150,000. Williams Jones & Associates LLC boosted its position in NextEra Energy Partners, by 370.3% in the second quarter. Williams Jones & Associates LLC now owns 71,725 shares of the solar energy provider’s stock worth $2,653,000 after buying an additional 56,475 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of NextEra Energy Partners, by 7.5% in the second quarter. Goldman Sachs Group Inc. now owns 331,732 shares of the solar energy provider’s stock worth $12,270,000 after buying an additional 23,159 shares in the last quarter. Finally, Rare Infrastructure Ltd boosted its position in shares of NextEra Energy Partners, by 16.5% in the second quarter. Rare Infrastructure Ltd now owns 483,020 shares of the solar energy provider’s stock worth $17,867,000 after buying an additional 68,358 shares in the last quarter. 86.15% of the stock is owned by institutional investors.

A number of research analysts have commented on the company. UBS AG reaffirmed a “neutral” rating and set a $32.00 price objective (up previously from $31.00) on shares of NextEra Energy Partners, in a research report on Tuesday, April 25th. ValuEngine lowered NextEra Energy Partners, from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BidaskClub lowered NextEra Energy Partners, from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 target price (up previously from $39.00) on shares of NextEra Energy Partners, in a report on Thursday, July 27th. Finally, BMO Capital Markets upped their price objective on shares of NextEra Energy Partners, from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.57.

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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.