NextEra Energy Partners (NYSE:NEP) Announces Quarterly Earnings Results

NextEra Energy Partners (NYSE:NEP - Get Free Report) issued its earnings results on Wednesday. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94), Briefing.com reports. The business had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

NextEra Energy Partners Stock Down 0.1 %

Shares of NYSE:NEP traded down $0.03 during mid-day trading on Thursday, hitting $20.98. 5,995,694 shares of the company traded hands, compared to its average volume of 1,459,118. The stock has a market cap of $1.96 billion, a P/E ratio of 6.88 and a beta of 1.06. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a 12-month low of $20.28 and a 12-month high of $35.15. The stock has a 50-day moving average price of $25.53 and a two-hundred day moving average price of $27.73.

NextEra Energy Partners Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be given a dividend of $0.9175 per share. The ex-dividend date is Wednesday, November 6th. NextEra Energy Partners's payout ratio is 118.69%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NEP shares. Raymond James downgraded NextEra Energy Partners from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 9th. Morgan Stanley cut NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Mizuho reduced their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday. Finally, CIBC reduced their price objective on NextEra Energy Partners from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.85.

NextEra Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.