Zacks Research Has Optimistic Outlook of NEP FY2024 Earnings

NextEra Energy Partners, LP (NYSE:NEP) – Research analysts at Zacks Research raised their FY2024 earnings estimates for shares of NextEra Energy Partners in a note issued to investors on Tuesday, January 14th. Zacks Research analyst J. Saha now anticipates that the solar energy provider will earn $1.35 per share for the year, up from their prior estimate of $1.27. The consensus estimate for NextEra Energy Partners’ current full-year earnings is $2.04 per share. Zacks Research also issued estimates for NextEra Energy Partners’ Q1 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.54 EPS, FY2025 earnings at $1.49 EPS, Q1 2026 earnings at $0.21 EPS, Q2 2026 earnings at $0.37 EPS, Q4 2026 earnings at $0.50 EPS and FY2026 earnings at $1.50 EPS.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same quarter last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis.

NEP has been the subject of a number of other reports. Evercore ISI cut their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price for the company. CIBC decreased their price target on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group cut their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.64.

NextEra Energy Partners Trading Up 0.6 %

Shares of NextEra Energy Partners stock opened at $16.88 on Thursday. The business has a fifty day simple moving average of $17.54 and a 200-day simple moving average of $22.49. NextEra Energy Partners has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 7.74 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC purchased a new position in shares of NextEra Energy Partners during the 4th quarter valued at $211,000. Assenagon Asset Management S.A. grew its stake in NextEra Energy Partners by 59.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 173,251 shares of the solar energy provider’s stock valued at $3,084,000 after purchasing an additional 64,673 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in NextEra Energy Partners in the 4th quarter worth about $219,000. 180 Wealth Advisors LLC purchased a new stake in shares of NextEra Energy Partners during the 4th quarter worth about $368,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of NextEra Energy Partners by 309.6% during the 4th quarter. FNY Investment Advisers LLC now owns 23,022 shares of the solar energy provider’s stock valued at $409,000 after buying an additional 17,402 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were issued a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 21.75%. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 168.35%.

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.