NextEra Energy Partners (NYSE:NEP) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

NextEra Energy Partners (NYSE:NEP) issued its quarterly earnings results on Tuesday. The solar energy provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20, Zacks reports. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%.

NextEra Energy Partners Stock Performance

Shares of NextEra Energy Partners stock opened at $10.51 on Thursday. The stock has a market cap of $982.53 million, a price-to-earnings ratio of 4.82 and a beta of 1.06. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a twelve month low of $10.32 and a twelve month high of $35.15. The company’s fifty day moving average is $17.31 and its 200 day moving average is $21.76.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank cut their target price on NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Wednesday. BMO Capital Markets restated a “market perform” rating and set a $18.00 price objective (down from $26.00) on shares of NextEra Energy Partners in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. CIBC dropped their target price on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price target on shares of NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.07.

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, 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.