NextEra Energy Partners (NYSE:NEP) Issues Earnings Results

NextEra Energy Partners (NYSE:NEP - Get Free Report) released its quarterly earnings data on Tuesday. The solar energy provider reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.20, Zacks reports. NextEra Energy Partners had a positive return on equity of 1.34% and a negative net margin of 0.73%.

NextEra Energy Partners Stock Up 1.1 %

Shares of NEP traded up $0.12 during midday trading on Friday, reaching $10.56. The stock had a trading volume of 4,207,566 shares, compared to its average volume of 4,449,273. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The company's fifty day simple moving average is $17.20 and its two-hundred day simple moving average is $21.68. The company has a market cap of $987.21 million, a price-to-earnings ratio of -105.55 and a beta of 1.06. NextEra Energy Partners has a 1-year low of $9.98 and a 1-year high of $35.15.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on NextEra Energy Partners from $33.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday. Morgan Stanley upgraded shares of NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 price target for the company in a research report on Monday, December 2nd. Barclays reaffirmed an "underweight" rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Finally, Guggenheim lowered their price target on NextEra Energy Partners from $17.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.07.

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.