Zacks Research Has Positive Forecast for NEP Q4 Earnings

NextEra Energy Partners, LP (NYSE:NEP - Free Report) - Equities researchers at Zacks Research increased their Q4 2024 EPS estimates for shares of NextEra Energy Partners in a research report issued on Tuesday, January 14th. Zacks Research analyst J. Saha now expects that the solar energy provider will post earnings of $0.37 per share for the quarter, up from their previous forecast of $0.29. The consensus estimate for NextEra Energy Partners' current full-year earnings is $2.04 per share. Zacks Research also issued estimates for NextEra Energy Partners' Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.33 EPS and Q3 2026 earnings at $0.41 EPS.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 EPS.

Other analysts also recently issued research reports about the company. Barclays reissued an "underweight" rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Friday, October 4th. Guggenheim cut NextEra Energy Partners from a "buy" rating to a "neutral" rating and cut their target price for the company from $37.00 to $22.00 in a research note on Monday, October 28th. Jefferies Financial Group decreased their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Scotiabank lowered their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a "sector perform" rating on the stock in a report on Thursday, December 12th. Finally, Morgan Stanley upgraded shares of NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 target price for the company in a report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.64.

NextEra Energy Partners Stock Up 0.6 %

Shares of NYSE:NEP traded up $0.11 during midday trading on Wednesday, reaching $16.88. 1,358,436 shares of the company were exchanged, compared to its average volume of 1,353,334. The firm has a market cap of $1.58 billion, a PE ratio of 7.74 and a beta of 1.06. NextEra Energy Partners has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The stock has a fifty day simple moving average of $17.54 and a two-hundred day simple moving average of $22.49. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a $0.9175 dividend. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 21.75%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners's dividend payout ratio (DPR) is 168.35%.

Hedge Funds Weigh In On NextEra Energy Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NEP. Northwestern Mutual Wealth Management Co. raised its stake in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock valued at $46,000 after buying an additional 1,000 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of NextEra Energy Partners during the 2nd quarter worth approximately $51,000. Eastern Bank bought a new stake in NextEra Energy Partners in the 3rd quarter valued at $57,000. McIlrath & Eck LLC acquired a new stake in NextEra Energy Partners during the 3rd quarter valued at $63,000. Finally, Central Pacific Bank Trust Division lifted its holdings in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider's stock valued at $110,000 after purchasing an additional 3,750 shares during the last quarter. Institutional investors own 66.01% of the company's stock.

About NextEra Energy Partners

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.