NextEra Energy Partners (NYSE:NEP) Releases Earnings Results

NextEra Energy Partners (NYSE:NEP) announced its quarterly earnings results on Tuesday. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 Trading Down 26.9 %

NEP opened at $11.55 on Tuesday. The company has a fifty day moving average price of $17.51 and a two-hundred day moving average price of $21.95. NextEra Energy Partners has a 1-year low of $12.10 and a 1-year high of $35.15. The company has a market cap of $1.08 billion, a P/E ratio of 5.24 and a beta of 1.06. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $18.00 target price (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Barclays reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th. Evercore ISI cut their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. BNP Paribas assumed coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target for the company. Finally, Guggenheim lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $22.00 in a report on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.