NextEra Energy Partners (NYSE:NEP) Issues Earnings Results

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

NextEra Energy Partners Stock Performance

Shares of NEP opened at $11.81 on Wednesday. The business’s fifty day moving average price is $17.43 and its 200 day moving average price is $21.84. NextEra Energy Partners has a 12-month low of $10.69 and a 12-month high of $35.15. The stock has a market capitalization of $1.10 billion, a PE ratio of 5.42 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NEP. BNP Paribas began coverage on NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective on the stock. Scotiabank reduced their price objective on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 12th. Morgan Stanley raised NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Monday, December 2nd. JPMorgan Chase & Co. dropped their price objective on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group decreased 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 note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $24.50.

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.