NextEra Energy Partners (NYSE:NEP) Issues Quarterly Earnings Results

NextEra Energy Partners (NYSE:NEP) announced its quarterly earnings results on Tuesday. The solar energy provider reported $0.99 EPS for the quarter, beating the consensus estimate 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 $15.79 on Tuesday. The company’s 50 day simple moving average is $17.51 and its 200-day simple moving average is $21.95. NextEra Energy Partners has a 12-month low of $15.25 and a 12-month high of $35.15. The firm has a market cap of $1.48 billion, a PE ratio of 7.24 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, December 12th. Morgan Stanley upgraded shares of 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 note on Monday, December 2nd. Mizuho reduced 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. UBS Group reduced their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Finally, Barclays reaffirmed an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, NextEra Energy Partners has an average rating of “Hold” and a consensus target price of $24.50.

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.