Nextera Energy Partners (NYSE:NEP) announced its earnings results on Friday, January 26th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.07), Morningstar.com reports. The company had revenue of $197.00 million for the quarter, compared to the consensus estimate of $251.41 million. Nextera Energy Partners had a positive return on equity of 1.70% and a negative net margin of 8.63%. During the same period in the prior year, the business earned ($0.23) earnings per share.
Shares of Nextera Energy Partners (NYSE NEP) traded up $1.41 on Monday, hitting $39.17. The stock had a trading volume of 236,430 shares, compared to its average volume of 348,177. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a market cap of $2,130.00, a P/E ratio of -32.58, a PEG ratio of 1.70 and a beta of 1.16. Nextera Energy Partners has a 12 month low of $30.08 and a 12 month high of $45.38.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be paid a $0.405 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a dividend yield of 4.14%. Nextera Energy Partners’s dividend payout ratio (DPR) is currently -135.00%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Nextera Energy Partners by 591.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 211,531 shares of the solar energy provider’s stock valued at $9,119,000 after buying an additional 180,928 shares during the period. Lee Financial Co acquired a new stake in shares of Nextera Energy Partners in the 4th quarter valued at about $726,000. Advisory Research Inc. grew its stake in shares of Nextera Energy Partners by 2.1% in the 4th quarter. Advisory Research Inc. now owns 315,888 shares of the solar energy provider’s stock valued at $13,618,000 after buying an additional 6,620 shares during the period. First Trust Advisors LP grew its stake in shares of Nextera Energy Partners by 11.0% in the 4th quarter. First Trust Advisors LP now owns 64,093 shares of the solar energy provider’s stock valued at $2,763,000 after buying an additional 6,376 shares during the period. Finally, Texas Yale Capital Corp. acquired a new stake in shares of Nextera Energy Partners in the 4th quarter valued at about $2,459,000. Institutional investors own 83.13% of the company’s stock.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Nextera Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Morgan Stanley raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Tuesday, December 12th. TheStreet lowered Nextera Energy Partners from a “b” rating to a “c+” rating in a research report on Thursday, October 26th. Credit Suisse Group assumed coverage on Nextera Energy Partners in a research report on Thursday, December 7th. They set an “outperform” rating and a $44.00 target price for the company. Finally, Guggenheim assumed coverage on Nextera Energy Partners in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Nextera Energy Partners currently has an average rating of “Hold” and an average price target of $40.38.
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Nextera Energy Partners Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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