NextEra Energy Partners (NEP) Set to Announce Quarterly Earnings on Wednesday

NextEra Energy Partners (NYSE:NEP – Get Rating) is set to issue its quarterly earnings data before the market opens on Wednesday, January 25th. Analysts expect the company to announce earnings of $0.52 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

NextEra Energy Partners (NYSE:NEP – Get Rating) last posted its earnings results on Friday, October 28th. The solar energy provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.30. NextEra Energy Partners had a return on equity of 3.71% and a net margin of 36.70%. The business had revenue of $302.00 million during the quarter, compared to the consensus estimate of $394.15 million. On average, analysts expect NextEra Energy Partners to post $6 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NextEra Energy Partners Stock Performance

Shares of NextEra Energy Partners stock traded up $1.03 on Tuesday, hitting $75.25. The stock had a trading volume of 611,637 shares, compared to its average volume of 626,712. NextEra Energy Partners has a 52-week low of $61.31 and a 52-week high of $86.06. The company has a current ratio of 1.91, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 2.48 and a beta of 0.92. The company’s 50 day moving average price is $75.29 and its 200 day moving average price is $77.13.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors and hedge funds have recently modified their holdings of NEP. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of NextEra Energy Partners in the 1st quarter worth approximately $36,000. Lazard Asset Management LLC grew its holdings in shares of NextEra Energy Partners by 69.6% in the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock worth $45,000 after acquiring an additional 224 shares during the period. Advisory Services Network LLC grew its holdings in shares of NextEra Energy Partners by 15.0% in the 1st quarter. Advisory Services Network LLC now owns 2,896 shares of the solar energy provider’s stock worth $241,000 after acquiring an additional 377 shares during the period. Lavaca Capital LLC purchased a new stake in NextEra Energy Partners in the 1st quarter valued at approximately $250,000. Finally, Moors & Cabot Inc. purchased a new stake in NextEra Energy Partners in the 1st quarter valued at approximately $274,000. Institutional investors and hedge funds own 83.05% of the company’s stock.

Analyst Upgrades and Downgrades

NEP has been the subject of several research reports. Wells Fargo & Company reduced their target price on NextEra Energy Partners from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. StockNews.com initiated coverage on NextEra Energy Partners in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group reduced their price objective on NextEra Energy Partners from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday, November 2nd. KeyCorp reduced their price objective on NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Finally, Morgan Stanley reduced their price objective on NextEra Energy Partners from $88.00 to $86.00 and set an “equal weight” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.67.

About NextEra Energy Partners

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NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.