Nextera Energy Partners LP (NYSE:NEP) Expected to Post Quarterly Sales of $332.81 Million

Wall Street brokerages expect that Nextera Energy Partners LP (NYSE:NEP) will post sales of $332.81 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Nextera Energy Partners’ earnings, with estimates ranging from $275.40 million to $416.24 million. Nextera Energy Partners posted sales of $219.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 52%. The company is expected to announce its next earnings results on Wednesday, July 22nd.

On average, analysts expect that Nextera Energy Partners will report full-year sales of $1.27 billion for the current financial year, with estimates ranging from $1.02 billion to $1.48 billion. For the next year, analysts anticipate that the company will report sales of $1.49 billion, with estimates ranging from $1.15 billion to $1.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Nextera Energy Partners.

Nextera Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, April 22nd. The solar energy provider reported ($3.39) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($3.59). Nextera Energy Partners had a negative return on equity of 4.53% and a negative net margin of 31.46%. The firm had revenue of $212.00 million for the quarter, compared to analyst estimates of $302.68 million. During the same period last year, the firm earned ($0.38) EPS. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year.

A number of equities research analysts recently commented on NEP shares. ValuEngine downgraded Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Goldman Sachs Group raised Nextera Energy Partners from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $63.00 to $65.00 in a report on Tuesday, June 30th. Raymond James raised Nextera Energy Partners from a “market perform” rating to an “outperform” rating and set a $63.00 price target for the company in a report on Friday, March 13th. Morgan Stanley boosted their price target on Nextera Energy Partners from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Wednesday, June 17th. Finally, Credit Suisse Group decreased their price target on Nextera Energy Partners from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.88.

Several institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Nextera Energy Partners by 36.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 887 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 235 shares in the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Nextera Energy Partners by 1.3% in the first quarter. Miller Howard Investments Inc. NY now owns 22,653 shares of the solar energy provider’s stock valued at $974,000 after buying an additional 292 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Nextera Energy Partners by 2.7% in the fourth quarter. First Republic Investment Management Inc. now owns 11,362 shares of the solar energy provider’s stock valued at $598,000 after buying an additional 299 shares in the last quarter. Atria Investments LLC increased its position in shares of Nextera Energy Partners by 4.1% in the fourth quarter. Atria Investments LLC now owns 7,583 shares of the solar energy provider’s stock valued at $399,000 after buying an additional 301 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Nextera Energy Partners by 37.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the solar energy provider’s stock valued at $60,000 after buying an additional 309 shares in the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.

Shares of Nextera Energy Partners stock traded up $1.22 on Friday, reaching $53.74. 394,829 shares of the stock were exchanged, compared to its average volume of 415,321. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.69. Nextera Energy Partners has a twelve month low of $29.01 and a twelve month high of $61.87. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -11.71 and a beta of 1.11. The business has a 50 day moving average price of $50.68 and a two-hundred day moving average price of $51.02.

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 with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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