NextEra Energy Partners (NEP) Releases Earnings Results

NextEra Energy Partners (NYSE:NEP) announced its quarterly earnings data on Tuesday. The solar energy provider reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.81, Morningstar.com reports. NextEra Energy Partners had a negative net margin of 8.63% and a positive return on equity of 1.80%. The company had revenue of $212.00 million for the quarter, compared to the consensus estimate of $273.98 million.

NYSE:NEP traded up $0.23 during trading hours on Wednesday, reaching $40.82. 109,021 shares of the company’s stock were exchanged, compared to its average volume of 269,381. The stock has a market cap of $2,190.11, a P/E ratio of 62.02, a P/E/G ratio of 1.84 and a beta of 1.21. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.44 and a quick ratio of 1.44. NextEra Energy Partners has a 1-year low of $32.90 and a 1-year high of $45.38.

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A number of large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its stake in NextEra Energy Partners by 19.0% during the 4th quarter. Millennium Management LLC now owns 170,089 shares of the solar energy provider’s stock worth $7,333,000 after purchasing an additional 27,189 shares during the period. Teachers Advisors LLC boosted its stake in NextEra Energy Partners by 181.3% during the 4th quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock worth $119,000 after purchasing an additional 1,777 shares during the period. Raymond James & Associates boosted its stake in NextEra Energy Partners by 9.6% during the 4th quarter. Raymond James & Associates now owns 56,816 shares of the solar energy provider’s stock worth $2,449,000 after purchasing an additional 4,974 shares during the period. HBK Investments L P boosted its stake in NextEra Energy Partners by 34.4% during the 4th quarter. HBK Investments L P now owns 12,498 shares of the solar energy provider’s stock worth $539,000 after purchasing an additional 3,198 shares during the period. Finally, Two Sigma Investments LP boosted its stake in NextEra Energy Partners by 108.1% during the 4th quarter. Two Sigma Investments LP now owns 32,677 shares of the solar energy provider’s stock worth $1,409,000 after purchasing an additional 16,971 shares during the period. Hedge funds and other institutional investors own 83.17% of the company’s stock.



A number of equities research analysts have commented on NEP shares. Guggenheim started coverage on shares of NextEra Energy Partners in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price objective on the stock. Zacks Investment Research downgraded shares of NextEra Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, April 11th. Bank of America raised shares of NextEra Energy Partners from an “underperform” rating to a “buy” rating and increased their price objective for the company from $39.12 to $43.00 in a research report on Friday, March 16th. ValuEngine raised shares of NextEra Energy Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, JPMorgan Chase dropped their price objective on shares of NextEra Energy Partners from $40.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.03.

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NextEra Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

Earnings History for NextEra Energy Partners (NYSE:NEP)

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