NextEra Energy Partners (NYSE:NEP) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS

NextEra Energy Partners (NYSE:NEP) issued its quarterly earnings data on Tuesday. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20, Zacks reports. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%.

NextEra Energy Partners Stock Performance

Shares of NEP opened at $15.79 on Tuesday. NextEra Energy Partners has a 52-week low of $15.25 and a 52-week high of $35.15. 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 has a market cap of $1.48 billion, a price-to-earnings ratio of 7.24 and a beta of 1.06. The business’s 50 day moving average is $17.51 and its two-hundred day moving average is $21.95.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Scotiabank decreased their target price on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 12th. 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 note on Monday, September 30th. Mizuho lowered their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley raised 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 research report on Monday, December 2nd. Finally, Guggenheim lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $37.00 to $22.00 in a research report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.50.

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.