NextEra Energy Partners (NYSE:NEP – Get Free Report) announced its earnings results on Wednesday. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07, Briefing.com reports. The business had revenue of $360.00 million during the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share.
NextEra Energy Partners Price Performance
NYSE NEP traded up $0.27 during mid-day trading on Friday, hitting $26.20. The stock had a trading volume of 1,963,298 shares, compared to its average volume of 1,650,590. The firm’s 50 day moving average is $29.43 and its 200 day moving average is $29.05. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $57.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.31. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.59 and a beta of 1.03.
NextEra Energy Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a dividend yield of 13.82%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 117.05%.
Analysts Set New Price Targets
Get Our Latest Analysis on NEP
About NextEra Energy Partners
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.
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