NextEra Energy Partners (NYSE:NEP) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

NextEra Energy Partners (NYSE:NEP) posted its earnings results on Tuesday. The solar energy provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 NextEra Energy Partners stock opened at $11.55 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.08 billion, a PE ratio of 5.24 and a beta of 1.06. The company has a 50 day moving average of $17.51 and a 200-day moving average of $21.95. NextEra Energy Partners has a 1-year low of $12.10 and a 1-year high of $35.15.

Analysts Set New Price Targets

Several research firms have commented on NEP. Scotiabank decreased their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th. Evercore ISI lowered their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Barclays restated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. CIBC lowered their target price on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho reduced their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.