$236.80 Million in Sales Expected for NextEra Energy Partners, LP (NEP) This Quarter
Wall Street analysts predict that NextEra Energy Partners, LP (NYSE:NEP) will post $236.80 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for NextEra Energy Partners,’s earnings. The highest sales estimate is $252.00 million and the lowest is $205.20 million. NextEra Energy Partners, posted sales of $186.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.3%. The firm is scheduled to announce its next earnings report on Monday, October 30th.
According to Zacks, analysts expect that NextEra Energy Partners, will report full year sales of $236.80 million for the current year, with estimates ranging from $644.00 million to $1.07 billion. For the next year, analysts forecast that the company will post sales of $1.12 billion per share, with estimates ranging from $810.00 million to $1.46 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for NextEra Energy Partners,.
NextEra Energy Partners, (NYSE:NEP) last issued its earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.19. The firm had revenue of $204 million during the quarter, compared to analyst estimates of $232.03 million. NextEra Energy Partners, had a net margin of 13.77% and a return on equity of 4.74%.
A number of equities analysts have issued reports on NEP shares. TheStreet raised NextEra Energy Partners, from a “c-” rating to a “b” rating in a research report on Wednesday, July 26th. Williams Capital started coverage on NextEra Energy Partners, in a research report on Thursday, June 1st. They issued a “buy” rating and a $45.00 target price on the stock. Vetr raised NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, May 15th. Zacks Investment Research raised NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Thursday, June 22nd. Finally, BidaskClub lowered NextEra Energy Partners, from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 1st. Five equities research analysts have rated the stock with a hold rating and twelve 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 $38.57.
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In other news, EVP Mark E. Hickson purchased 1,350 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were acquired at an average cost of $37.51 per share, with a total value of $50,638.50. Following the transaction, the executive vice president now owns 4,780 shares in the company, valued at approximately $179,297.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Armando Pimentel, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were purchased at an average cost of $38.23 per share, for a total transaction of $191,150.00. Following the completion of the transaction, the insider now owns 20,000 shares in the company, valued at approximately $764,600. The disclosure for this purchase can be found here. Corporate insiders own 0.46% of the company’s stock.
Several large investors have recently bought and sold shares of NEP. BlackRock Inc. raised its stake in NextEra Energy Partners, by 11,623.3% in the first quarter. BlackRock Inc. now owns 2,968,450 shares of the solar energy provider’s stock valued at $98,346,000 after buying an additional 2,943,129 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of NextEra Energy Partners, by 34.4% in the first quarter. Neuberger Berman Group LLC now owns 8,015,035 shares of the solar energy provider’s stock worth $265,538,000 after buying an additional 2,050,427 shares during the last quarter. Beach Investment Management LLC. increased its position in shares of NextEra Energy Partners, by 1,005.7% in the second quarter. Beach Investment Management LLC. now owns 1,329,958 shares of the solar energy provider’s stock worth $49,195,000 after buying an additional 1,209,675 shares during the last quarter. Duff & Phelps Investment Management Co. bought a new position in shares of NextEra Energy Partners, during the second quarter worth approximately $28,000,000. Finally, Janus Henderson Group PLC bought a new position in shares of NextEra Energy Partners, during the second quarter worth approximately $17,150,000. 86.15% of the stock is currently owned by institutional investors and hedge funds.
Shares of NextEra Energy Partners, (NYSE NEP) opened at 38.88 on Tuesday. The company has a 50-day moving average of $38.89 and a 200 day moving average of $34.74. NextEra Energy Partners, has a one year low of $23.90 and a one year high of $41.49. The firm has a market cap of $2.11 billion, a PE ratio of 21.41 and a beta of 1.26.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were given a dividend of $0.38 per share. This is a positive change from NextEra Energy Partners,’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Thursday, August 3rd. NextEra Energy Partners,’s dividend payout ratio is currently 76.38%.
NextEra Energy Partners, Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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