Equities analysts predict that NextEra Energy Partners, LP (NYSE:NEP) will report sales of $321.98 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for NextEra Energy Partners’ earnings. The lowest sales estimate is $241.00 million and the highest is $452.11 million. NextEra Energy Partners posted sales of $206.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 56.3%. The business is expected to announce its next earnings report on Friday, January 22nd.
On average, analysts expect that NextEra Energy Partners will report full year sales of $1.11 billion for the current fiscal year, with estimates ranging from $946.00 million to $1.37 billion. For the next fiscal year, analysts expect that the business will post sales of $1.41 billion, with estimates ranging from $1.07 billion to $1.91 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow NextEra Energy Partners.
NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, October 21st. The solar energy provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.14. The business had revenue of $240.00 million for the quarter, compared to analyst estimates of $330.08 million. During the same period in the prior year, the company posted $2.39 EPS.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Tuesday, December 22nd. Credit Suisse Group increased their price target on shares of NextEra Energy Partners from $60.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, October 19th. Vertical Research upgraded shares of NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Friday, October 16th. Morgan Stanley dropped their price target on shares of NextEra Energy Partners from $59.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 17th. Finally, Seaport Global Securities started coverage on shares of NextEra Energy Partners in a research report on Tuesday, September 8th. They set a “buy” rating and a $62.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $64.75.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Truist Financial Corp lifted its holdings in shares of NextEra Energy Partners by 1.2% during the third quarter. Truist Financial Corp now owns 14,510 shares of the solar energy provider’s stock worth $870,000 after purchasing an additional 172 shares during the period. Advisor Group Holdings Inc. lifted its holdings in NextEra Energy Partners by 4.1% in the second quarter. Advisor Group Holdings Inc. now owns 5,881 shares of the solar energy provider’s stock valued at $302,000 after acquiring an additional 233 shares during the period. Moseley Investment Management Inc. lifted its holdings in NextEra Energy Partners by 3.7% in the third quarter. Moseley Investment Management Inc. now owns 6,747 shares of the solar energy provider’s stock valued at $405,000 after acquiring an additional 243 shares during the period. Otter Creek Advisors LLC lifted its holdings in NextEra Energy Partners by 0.3% in the second quarter. Otter Creek Advisors LLC now owns 87,476 shares of the solar energy provider’s stock valued at $4,485,000 after acquiring an additional 305 shares during the period. Finally, US Bancorp DE lifted its holdings in NextEra Energy Partners by 3.8% in the third quarter. US Bancorp DE now owns 10,864 shares of the solar energy provider’s stock valued at $651,000 after acquiring an additional 398 shares during the period. 66.98% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy Partners stock traded up $0.75 during mid-day trading on Tuesday, hitting $67.05. The company had a trading volume of 400,681 shares, compared to its average volume of 566,290. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of -46.56 and a beta of 0.79. NextEra Energy Partners has a 1 year low of $29.01 and a 1 year high of $69.14. The company has a quick ratio of 1.25, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $64.39 and a 200 day moving average of $60.86.
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 and solar projects, as well as contracted natural gas pipeline assets. The company was founded in 2014 and is headquartered in Juno Beach, Florida.
See Also: What causes a stock to be most active?
Get a free copy of the Zacks research report on NextEra Energy Partners (NEP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com