NextEra Energy Partners, LP (NYSE:NEP) Expected to Earn FY2023 Earnings of $2.19 Per Share

NextEra Energy Partners, LP (NYSE:NEPGet Rating) – Investment analysts at Oppenheimer boosted their FY2023 earnings estimates for NextEra Energy Partners in a report issued on Tuesday, June 14th. Oppenheimer analyst N. Kaye now expects that the solar energy provider will post earnings of $2.19 per share for the year, up from their previous forecast of $2.05. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $2.62 per share.

A number of other research firms have also weighed in on NEP. CIBC began coverage on shares of NextEra Energy Partners in a report on Thursday, June 9th. They issued a “neutral” rating and a $79.00 target price on the stock. Morgan Stanley lowered their target price on shares of NextEra Energy Partners from $93.00 to $86.00 and set an “equal weight” rating on the stock in a report on Monday. Credit Suisse Group lowered their target price on shares of NextEra Energy Partners from $78.00 to $74.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada upped their target price on shares of NextEra Energy Partners from $80.00 to $86.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 23rd. Finally, Raymond James lowered shares of NextEra Energy Partners from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.86.

Shares of NYSE NEP opened at $67.20 on Friday. The firm’s 50-day moving average price is $70.78 and its 200-day moving average price is $76.24. NextEra Energy Partners has a 1-year low of $61.31 and a 1-year high of $88.80. The firm has a market capitalization of $5.64 billion, a P/E ratio of 77.24, a P/E/G ratio of 2.73 and a beta of 0.92. The company has a current ratio of 1.60, a quick ratio of 1.55 and a debt-to-equity ratio of 0.48.

NextEra Energy Partners (NYSE:NEPGet Rating) last released its earnings results on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $1.30. NextEra Energy Partners had a net margin of 15.13% and a return on equity of 1.58%. The business had revenue of $281.00 million for the quarter, compared to analyst estimates of $305.98 million. During the same quarter in the previous year, the business earned $2.66 earnings per share. NextEra Energy Partners’s revenue for the quarter was up 14.2% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Thursday, May 5th were issued a $0.7325 dividend. The ex-dividend date was Wednesday, May 4th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.71. This represents a $2.93 annualized dividend and a yield of 4.36%. NextEra Energy Partners’s dividend payout ratio (DPR) is 336.78%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cassady Schiller Wealth Management LLC bought a new position in NextEra Energy Partners in the 4th quarter worth approximately $25,000. Lazard Asset Management LLC purchased a new stake in NextEra Energy Partners in the 4th quarter worth approximately $27,000. Amplius Wealth Advisors LLC purchased a new stake in NextEra Energy Partners in the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC lifted its stake in NextEra Energy Partners by 300.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 400 shares of the solar energy provider’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. purchased a new stake in NextEra Energy Partners in the 1st quarter worth approximately $36,000. 81.32% of the stock is owned by institutional investors.

About NextEra Energy Partners (Get Rating)

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. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

Featured Stories

Earnings History and Estimates for NextEra Energy Partners (NYSE:NEP)

Want More Great Investing Ideas?

Receive News & Ratings for NextEra Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.