NextEra Energy Partners, LP (NYSE:NEP – Get Rating) – Oppenheimer issued their Q2 2023 EPS estimates for NextEra Energy Partners in a report issued on Wednesday, January 25th. Oppenheimer analyst N. Kaye expects that the solar energy provider will post earnings per share of $0.78 for the quarter. Oppenheimer has a "Outperform" rating and a $94.00 price target on the stock. The consensus estimate for NextEra Energy Partners' current full-year earnings is $3.00 per share.
Get NextEra Energy Partners alerts:NextEra Energy Partners (NYSE:NEP – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The solar energy provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.12). The firm had revenue of $266.00 million for the quarter, compared to the consensus estimate of $336.74 million. NextEra Energy Partners had a return on equity of 4.00% and a net margin of 39.39%. The firm's revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) EPS.
NEP has been the subject of several other reports. KeyCorp reduced their price objective on NextEra Energy Partners from $89.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, October 20th. Credit Suisse Group decreased their price objective on NextEra Energy Partners from $90.00 to $87.00 and set an "outperform" rating on the stock in a report on Wednesday, November 2nd. Raymond James upgraded NextEra Energy Partners from an "underperform" rating to a "market perform" rating in a report on Wednesday, January 4th. Wells Fargo & Company cut their target price on NextEra Energy Partners from $93.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 19th. Finally, StockNews.com cut NextEra Energy Partners from a "hold" rating to a "sell" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $85.60.NextEra Energy Partners Stock Performance
NYSE NEP opened at $72.89 on Friday. The company has a fifty day simple moving average of $74.92 and a 200 day simple moving average of $77.05. NextEra Energy Partners has a 12-month low of $61.31 and a 12-month high of $86.06. The company has a current ratio of 1.91, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The company has a market cap of $6.31 billion, a P/E ratio of 12.88, a PEG ratio of 2.40 and a beta of 0.92.
Institutional Investors Weigh In On NextEra Energy Partners
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Naples Global Advisors LLC increased its holdings in NextEra Energy Partners by 0.6% in the third quarter. Naples Global Advisors LLC now owns 26,390 shares of the solar energy provider's stock valued at $1,908,000 after buying an additional 150 shares in the last quarter. Sigma Planning Corp raised its stake in shares of NextEra Energy Partners by 3.2% in the 3rd quarter. Sigma Planning Corp now owns 4,894 shares of the solar energy provider's stock valued at $354,000 after acquiring an additional 152 shares during the period. Advisory Services Network LLC increased its stake in NextEra Energy Partners by 5.8% during the 2nd quarter. Advisory Services Network LLC now owns 3,063 shares of the solar energy provider's stock worth $227,000 after buying an additional 167 shares during the period. Arden Trust Co increased its stake in NextEra Energy Partners by 3.1% during the 3rd quarter. Arden Trust Co now owns 5,983 shares of the solar energy provider's stock worth $433,000 after buying an additional 180 shares during the period. Finally, Lee Financial Co increased its position in shares of NextEra Energy Partners by 0.8% in the 2nd quarter. Lee Financial Co now owns 23,410 shares of the solar energy provider's stock valued at $1,736,000 after purchasing an additional 196 shares during the last quarter. 83.05% of the stock is currently owned by institutional investors and hedge funds.
NextEra Energy Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Monday, February 6th will be paid a $0.8125 dividend. This represents a $3.25 annualized dividend and a yield of 4.46%. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, February 3rd. NextEra Energy Partners's dividend payout ratio (DPR) is 55.65%.
NextEra Energy Partners Company Profile
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NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
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