NextEra Energy Partners (NYSE:NEP) Issues Quarterly Earnings Results

NextEra Energy Partners (NYSE:NEP) posted its quarterly earnings results on Wednesday. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94), Briefing.com reports. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock traded up $0.24 during trading hours on Thursday, hitting $21.25. 659,755 shares of the stock were exchanged, compared to its average volume of 1,433,227. NextEra Energy Partners has a 12 month low of $20.73 and a 12 month high of $35.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The business’s 50-day moving average is $25.61 and its two-hundred day moving average is $27.77. The stock has a market capitalization of $1.99 billion, a P/E ratio of 6.89 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NEP. BMO Capital Markets lowered their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Jefferies Financial Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group cut 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. Finally, Barclays reissued an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.85.

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.