FY2024 Earnings Forecast for NextEra Energy Partners, LP Issued By Seaport Res Ptn (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) – Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for shares of NextEra Energy Partners in a report released on Tuesday, May 21st. Seaport Res Ptn analyst A. Storozynski now anticipates that the solar energy provider will post earnings of $1.34 per share for the year, up from their prior forecast of $0.66. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $1.89 per share. Seaport Res Ptn also issued estimates for NextEra Energy Partners’ FY2025 earnings at $1.53 EPS and FY2026 earnings at $0.69 EPS.

Several other analysts also recently weighed in on the company. Raymond James decreased their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Evercore ISI began coverage on shares of NextEra Energy Partners in a research note on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price objective on the stock. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Finally, Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.29.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock opened at $33.68 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36. The company has a 50 day moving average price of $29.78 and a 200-day moving average price of $28.41. The company has a market capitalization of $3.15 billion, a PE ratio of 11.04 and a beta of 1.01. NextEra Energy Partners has a fifty-two week low of $20.17 and a fifty-two week high of $63.89.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.12 by $0.63. The company had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.8925 per share. The ex-dividend date was Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a dividend yield of 10.60%. NextEra Energy Partners’s dividend payout ratio (DPR) is 117.05%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NEP. Parkside Financial Bank & Trust lifted its position in NextEra Energy Partners by 60.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 454 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in NextEra Energy Partners by 4.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock valued at $320,000 after buying an additional 496 shares during the last quarter. CWM LLC lifted its stake in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of NextEra Energy Partners by 46.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock valued at $51,000 after acquiring an additional 532 shares during the period. Finally, Gilman Hill Asset Management LLC grew its position in shares of NextEra Energy Partners by 5.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock worth $342,000 after acquiring an additional 575 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.