NextEra Energy Partners, LP (NYSE:NEP) is set to announce third quarter earning results on Wednesday 21st October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, NEP to report 3Q20 income of $ 0.44 per share.
For the full year, analysts anticipate top line of $ 1141.63 million, while looking forward to loss of $ 1.24 per share bottom line.
Previous Quarter Performance
NextEra Energy Partners, LP outlined income for the second quarter of $ 0.69 per share, from the revenue of $ 253.00 million. The quarterly revenues declined 13.20 percent compared with the same quarter last year. Wall street analysts are predicting, NEP to report 2Q20 income of $ 0.36 per share from revenue of $ 338.10 million. The bottom line results beat street analysts by $ 0.33 or 91.67 percent, at the same time, top line results fell short of analysts by $ 85.1 million or 25.17 percent.
Stock Performance
Shares of NextEra Energy Partners, LP traded up $ 0.68 or 1.06 percent on Tuesday, reaching $ 65.00 with volume of 230.20 thousand shares. NextEra Energy Partners, LP has traded high as $ 65.46 and has cracked $ 64.53 on the downward trend
The closing price of $ 65.00, representing a 121.72 % increase from the 52 week low of $ 29.01 and a 5.95 % decrease over the 52 week high of $ 68.39.
The company has a market capital of $ 4.26 billion and is part of the Utilities sector and Utilities – Independent Power Producers industry.
Recent Analyst recommendations
- On 19th October 2020, maintained by Credit Suisse Group at Outperform rating, with $ 69.00 target price.
- On 8th October 2020, maintained by Raymond James at Outperform rating, with $ 73.00 target price.
- On 18th September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 59.00 target price.
- On 8th September 2020, initiated by Seaport Global Securities at Buy rating, with $ 62.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.5775 per share on July 23, 2020. The dividend were payable on August 14, 2020 to holders of record as of the close of business on August 6, 2020 and ex-dividend date on August 5, 2020.
Conference Call
NextEra Energy Partners, LP will be hosting a conference call at 9:00 AM eastern time on 21st October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.investor.nexteraenergypartners.com
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets. The company was founded in 2014 and is headquartered in Juno Beach, Florida.
