NextEra Energy Partners (NYSE:NEP) Posts Earnings Results, Misses Expectations By $0.94 EPS

NextEra Energy Partners (NYSE:NEP) released its quarterly earnings data on Wednesday. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94), Briefing.com reports. The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS.

NextEra Energy Partners Price Performance

Shares of NYSE NEP traded down $0.04 during midday trading on Thursday, hitting $20.97. The stock had a trading volume of 2,435,984 shares, compared to its average volume of 1,441,849. The stock has a 50 day simple moving average of $25.61 and a 200-day simple moving average of $27.77. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.96 billion, a PE ratio of 6.88 and a beta of 1.06. NextEra Energy Partners has a 1 year low of $20.69 and a 1 year high of $35.15.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Royal Bank of Canada downgraded NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $38.00 to $30.00 in a report on Monday, July 1st. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a research report on Thursday. Mizuho decreased their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group decreased their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, NextEra Energy Partners has an average rating of “Hold” and a consensus price target of $27.85.

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.