Seaport Res Ptn Analysts Boost Earnings Estimates for NextEra Energy Partners, LP (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) – Equities research analysts at Seaport Res Ptn increased their FY2024 EPS estimates for NextEra Energy Partners in a report released on Tuesday, May 21st. Seaport Res Ptn analyst A. Storozynski now expects 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 $1.79 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.

A number of other research firms have also recently weighed in on NEP. Evercore ISI assumed coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price objective on the stock. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Raymond James lowered their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Finally, Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.36.

NextEra Energy Partners Trading Up 2.1 %

NEP stock opened at $34.60 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $63.89. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 11.34 and a beta of 1.01. The firm’s fifty day simple moving average is $29.59 and its two-hundred day simple moving average is $28.33.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The business had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $331.78 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.8925 dividend. The ex-dividend date was Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a yield of 10.32%. NextEra Energy Partners’s dividend payout ratio is 117.05%.

Institutional Trading of NextEra Energy Partners

A number of hedge funds have recently added to or reduced their stakes in NEP. M&G Plc purchased a new stake in NextEra Energy Partners in the first quarter worth about $83,069,000. 1832 Asset Management L.P. lifted its position in shares of NextEra Energy Partners by 599.4% during the fourth quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after buying an additional 2,230,374 shares during the last quarter. ClearBridge Investments Ltd lifted its position in shares of NextEra Energy Partners by 64.4% during the third quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock valued at $106,425,000 after buying an additional 1,404,318 shares during the last quarter. FMR LLC lifted its position in shares of NextEra Energy Partners by 18.9% during the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after buying an additional 774,665 shares during the last quarter. Finally, M&G Investment Management Ltd. lifted its position in shares of NextEra Energy Partners by 27.1% during the fourth quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock valued at $91,322,000 after buying an additional 648,775 shares during the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.