NextEra Energy Partners (NYSE:NEP) Announces Quarterly Earnings Results, Misses Expectations By $0.94 EPS

NextEra Energy Partners (NYSE:NEP) announced its quarterly 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. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same period last year, the firm earned $0.57 EPS. NextEra Energy Partners’s quarterly revenue was up 3.6% compared to the same quarter last year.

NextEra Energy Partners Trading Up 0.5 %

Shares of NEP traded up $0.11 during mid-day trading on Friday, reaching $21.10. The company’s stock had a trading volume of 813,908 shares, compared to its average volume of 1,455,550. 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 52 week low of $20.28 and a 52 week high of $35.15. The company’s fifty day moving average price is $25.53 and its two-hundred day moving average price is $27.73. The stock has a market cap of $1.97 billion, a PE ratio of 6.60 and a beta of 1.06.

NextEra Energy Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a dividend yield of 17.39%. The ex-dividend date of this dividend is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 113.84%.

Analyst Ratings Changes

NEP has been the subject of a number of research reports. Morgan Stanley cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $31.00 to $20.00 in a research note on Wednesday, July 31st. Mizuho decreased their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. UBS Group lowered their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada downgraded shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.85.

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.