Zacks Research Issues Pessimistic Forecast for NEP Earnings

NextEra Energy Partners, LP (NYSE:NEP - Free Report) - Zacks Research cut their FY2024 earnings per share (EPS) estimates for shares of NextEra Energy Partners in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst J. Saha now forecasts that the solar energy provider will post earnings per share of $1.27 for the year, down from their previous estimate of $1.85. The consensus estimate for NextEra Energy Partners' current full-year earnings is $1.36 per share. Zacks Research also issued estimates for NextEra Energy Partners' Q4 2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.29 EPS, Q4 2025 earnings at $0.55 EPS, FY2025 earnings at $1.21 EPS, Q1 2026 earnings at $0.03 EPS, Q3 2026 earnings at $0.33 EPS and FY2026 earnings at $0.94 EPS.

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

A number of other brokerages have also commented on NEP. Mizuho decreased their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group reduced 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 report on Thursday, October 24th. UBS Group decreased their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, September 30th. Morgan Stanley cut NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Finally, Evercore ISI cut their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $26.69.

NextEra Energy Partners Stock Performance

Shares of NEP stock traded down $0.37 on Monday, reaching $16.06. The stock had a trading volume of 1,314,574 shares, compared to its average volume of 1,571,070. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The firm's 50-day moving average is $23.42 and its two-hundred day moving average is $26.61. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.54 and a beta of 1.10. NextEra Energy Partners has a 12 month low of $15.55 and a 12 month high of $35.15.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a dividend yield of 22.85%. NextEra Energy Partners's payout ratio is currently 168.35%.

Hedge Funds Weigh In On NextEra Energy Partners

A number of large investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC boosted its stake in shares of NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider's stock worth $807,000 after purchasing an additional 412 shares during the period. Brown Miller Wealth Management LLC boosted its position in NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider's stock valued at $509,000 after buying an additional 433 shares during the period. Pathway Financial Advisers LLC boosted its position in NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider's stock valued at $1,336,000 after buying an additional 454 shares during the period. Arizona State Retirement System boosted its position in NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider's stock valued at $724,000 after buying an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its position in NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider's stock valued at $362,000 after buying an additional 581 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.