Loading...

NextEra Energy Partners

NYSE:NEP
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NEP
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Utilities
Company description

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. The last earnings update was 29 days ago. More info.


Add to Portfolio Compare Print
  • NextEra Energy Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
NEP Share Price and Events
7 Day Returns
0.5%
NYSE:NEP
1.1%
US Renewable Energy
1.6%
US Market
1 Year Returns
4.9%
NYSE:NEP
13.9%
US Renewable Energy
2.6%
US Market
NEP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NextEra Energy Partners (NEP) 0.5% -2.5% 6% 4.9% 65.5% -
US Renewable Energy 1.1% -3.8% -1.7% 13.9% 32.1% 5.5%
US Market 1.6% -1.7% 2.1% 2.6% 38.5% 41.4%
1 Year Return vs Industry and Market
  • NEP underperformed the Renewable Energy industry which returned 13.9% over the past year.
  • NEP outperformed the Market in United States of America which returned 2.6% over the past year.
Price Volatility
NEP
Industry
5yr Volatility vs Market

NEP Value

 Is NextEra Energy Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NextEra Energy Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NextEra Energy Partners.

NYSE:NEP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:NEP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.43
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.43 (1 + (1- 21%) (141.29%))
0.94
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.94 * 5.96%)
8.33%

Discounted Cash Flow Calculation for NYSE:NEP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NextEra Energy Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:NEP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.33%)
2019 477.65 Analyst x2 440.91
2020 583.40 Analyst x2 497.10
2021 1,120.00 Analyst x1 880.91
2022 1,623.45 Est @ 44.95% 1,178.67
2023 2,147.57 Est @ 32.28% 1,439.26
2024 2,650.49 Est @ 23.42% 1,639.67
2025 3,106.68 Est @ 17.21% 1,774.06
2026 3,506.42 Est @ 12.87% 1,848.30
2027 3,850.97 Est @ 9.83% 1,873.77
2028 4,147.38 Est @ 7.7% 1,862.77
Present value of next 10 years cash flows $13,435.44
NYSE:NEP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $4,147.38 × (1 + 2.73%) ÷ (8.33% – 2.73%)
$76,039.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $76,039.44 ÷ (1 + 8.33%)10
$34,152.70
NYSE:NEP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $13,435.44 + $34,152.70
$47,588.14
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $47,588.14 / 56.15
$847.52
NYSE:NEP Discount to Share Price
Calculation Result
Value per share (USD) From above. $847.52
Current discount Discount to share price of $45.78
= -1 x ($45.78 - $847.52) / $847.52
94.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price NextEra Energy Partners is available for.
Intrinsic value
>50%
Share price is $45.78 vs Future cash flow value of $847.52
Current Discount Checks
For NextEra Energy Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NextEra Energy Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • NextEra Energy Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NextEra Energy Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NextEra Energy Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:NEP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.28
NYSE:NEP Share Price ** NYSE (2019-05-21) in USD $45.78
United States of America Renewable Energy Industry PE Ratio Median Figure of 8 Publicly-Listed Renewable Energy Companies 56.23x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NextEra Energy Partners.

NYSE:NEP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NEP Share Price ÷ EPS (both in USD)

= 45.78 ÷ 1.28

35.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NextEra Energy Partners is good value based on earnings compared to the US Renewable Energy industry average.
  • NextEra Energy Partners is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does NextEra Energy Partners's expected growth come at a high price?
Raw Data
NYSE:NEP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 35.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
30.5%per year
United States of America Renewable Energy Industry PEG Ratio Median Figure of 6 Publicly-Listed Renewable Energy Companies 1.93x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NYSE:NEP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 35.69x ÷ 30.5%

1.17x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NextEra Energy Partners is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on NextEra Energy Partners's assets?
Raw Data
NYSE:NEP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $31.15
NYSE:NEP Share Price * NYSE (2019-05-21) in USD $45.78
United States of America Renewable Energy Industry PB Ratio Median Figure of 15 Publicly-Listed Renewable Energy Companies 1.42x
United States of America Market PB Ratio Median Figure of 5,202 Publicly-Listed Companies 1.84x
NYSE:NEP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NEP Share Price ÷ Book Value per Share (both in USD)

= 45.78 ÷ 31.15

1.47x

* Primary Listing of NextEra Energy Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NextEra Energy Partners is overvalued based on assets compared to the US Renewable Energy industry average.
X
Value checks
We assess NextEra Energy Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check)
  5. NextEra Energy Partners has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NEP Future Performance

 How is NextEra Energy Partners expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
30.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NextEra Energy Partners expected to grow at an attractive rate?
  • NextEra Energy Partners's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • NextEra Energy Partners's earnings growth is expected to exceed the United States of America market average.
  • NextEra Energy Partners's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:NEP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:NEP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 30.5%
NYSE:NEP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 17.8%
United States of America Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 23.6%
United States of America Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average -0.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:NEP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:NEP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,010 1,102 257 1
2022-12-31 1,782 943 220 1
2021-12-31 1,776 732 187 8
2020-12-31 1,440 589 136 11
2019-12-31 1,171 456 72 9
NYSE:NEP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 736 328 71
2018-12-31 771 362 167
2018-09-30 812 389 100
2018-06-30 825 406 68
2018-03-31 821 405 -2
2017-12-31 807 413 -64
2017-09-30 826 448 68
2017-06-30 826 443 94
2017-03-31 793 426 89
2016-12-31 772 415 83
2016-09-30 703 334 44
2016-06-30 627 281 19

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NextEra Energy Partners's earnings are expected to grow significantly at over 20% yearly.
  • NextEra Energy Partners's revenue is expected to grow by 17.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:NEP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from NextEra Energy Partners Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NEP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.71 2.71 2.71 1.00
2022-12-31 2.48 2.48 2.48 1.00
2021-12-31 1.88 2.40 1.51 5.00
2020-12-31 1.70 2.58 1.27 7.00
2019-12-31 0.92 1.43 0.08 6.00
NYSE:NEP Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.28
2018-12-31 3.04
2018-09-30 1.84
2018-06-30 1.25
2018-03-31 -0.04
2017-12-31 -1.18
2017-09-30 1.25
2017-06-30 1.82
2017-03-31 1.83
2016-12-31 1.89
2016-09-30 1.17
2016-06-30 0.59

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • NextEra Energy Partners is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess NextEra Energy Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NextEra Energy Partners has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NEP Past Performance

  How has NextEra Energy Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NextEra Energy Partners's growth in the last year to its industry (Renewable Energy).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NextEra Energy Partners has delivered over 20% year on year earnings growth in the past 5 years.
  • NextEra Energy Partners has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • NextEra Energy Partners has become profitable in the last year making it difficult to compare the North America Renewable Energy industry average.
Earnings and Revenue History
NextEra Energy Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NextEra Energy Partners Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NEP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 736.00 71.00
2018-12-31 771.00 167.00
2018-09-30 812.00 100.00
2018-06-30 825.00 68.00
2018-03-31 821.00 -2.00
2017-12-31 807.00 -64.00
2017-09-30 826.00 68.00 -16.00
2017-06-30 826.00 94.00 -12.00
2017-03-31 793.00 89.00 -6.00
2016-12-31 772.00 83.00
2016-09-30 703.00 44.00 21.00
2016-06-30 627.00 19.00 23.00
2016-03-31 564.00 15.00 21.00
2015-12-31 501.00 10.00
2015-09-30 437.00 6.00 19.00
2015-06-30 419.00 7.00 17.00
2015-03-31 393.00 -4.00 16.00
2014-12-31 359.00 3.00 16.00
2014-09-30 315.00 10.00 10.00
2014-06-30 246.00 5.00 8.00
2014-03-31 181.05 22.40 6.20
2013-12-31 179.00 20.00 8.00
2012-12-31 93.00 16.00 3.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • NextEra Energy Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • NextEra Energy Partners used its assets more efficiently than the US Renewable Energy industry average last year based on Return on Assets.
  • NextEra Energy Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NextEra Energy Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NextEra Energy Partners has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NEP Health

 How is NextEra Energy Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NextEra Energy Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NextEra Energy Partners's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • NextEra Energy Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of NextEra Energy Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NextEra Energy Partners Company Filings, last reported 1 month ago.

NYSE:NEP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,345.00 3,632.00 132.00
2018-12-31 5,538.00 3,540.00 154.00
2018-09-30 4,032.00 3,572.00 84.00
2018-06-30 3,889.00 3,646.00 654.00
2018-03-31 3,565.00 3,580.00 174.00
2017-12-31 2,224.00 4,317.00 164.00
2017-09-30 2,076.00 4,335.00 135.00
2017-06-30 2,105.00 4,015.00 130.00
2017-03-31 2,157.00 3,811.00 82.00
2016-12-31 2,566.00 3,632.00 150.00
2016-09-30 2,169.00 3,797.00 133.00
2016-06-30 1,770.00 3,579.00 244.00
2016-03-31 1,779.00 3,545.00 133.00
2015-12-31 1,892.00 3,518.00 164.00
2015-09-30 1,681.00 1,939.00 696.00
2015-06-30 804.00 2,294.00 100.00
2015-03-31 612.00 1,891.00 52.00
2014-12-31 1,633.00 1,907.00 106.00
2014-09-30 746.00 1,862.00 118.00
2014-06-30 478.22 2,242.68 107.10
2014-03-31 989.41 1,789.38 185.99
2013-12-31 713.00 1,803.00 27.00
2012-12-31 701.34 1,406.75 21.03
  • NextEra Energy Partners's level of debt (68%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (182.4% vs 68% today).
  • Debt is not well covered by operating cash flow (9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess NextEra Energy Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NextEra Energy Partners has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NEP Dividends

 What is NextEra Energy Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.22%
Current annual income from NextEra Energy Partners dividends. Estimated to be 5.22% next year.
If you bought $2,000 of NextEra Energy Partners shares you are expected to receive $84 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • NextEra Energy Partners's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • NextEra Energy Partners's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:NEP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:NEP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 3.40 2.00
2022-12-31 3.00 3.00
2021-12-31 2.64 10.00
2020-12-31 2.29 13.00
2019-12-31 2.00 13.00
NYSE:NEP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-23 1.930 4.244
2019-01-25 1.860 4.188
2018-10-23 1.800 4.051
2018-07-25 1.750 3.677
2018-04-24 1.680 3.787
2018-01-26 1.620 4.051
2017-10-27 1.570 3.921
2017-10-26 1.570 4.053
2017-07-26 1.520 3.737
2017-04-21 1.460 4.107
2017-02-23 1.410 4.386
2017-01-27 1.410 4.547
2016-10-31 1.365 5.252
2016-07-27 1.320 4.548
2016-04-28 1.275 4.348
2016-02-19 1.230 4.633
2016-01-28 1.230 4.513
2015-11-06 1.080 4.025
2015-10-28 1.080 4.041
2015-08-07 0.940 3.601
2015-05-01 0.820 2.027
2015-04-29 0.820 1.934
2015-02-20 0.780 1.876
2015-01-27 0.780 1.956
2014-10-30 0.750 2.114

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, NextEra Energy Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but NextEra Energy Partners only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of NextEra Energy Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (0.8x coverage).
X
Income/ dividend checks
We assess NextEra Energy Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NextEra Energy Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NextEra Energy Partners has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NEP Management

 What is the CEO of NextEra Energy Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Robo
AGE 55
TENURE AS CEO 1.8 years
CEO Bio

Mr. James L. Robo, also known as Jim, has been Chairman of the Board and Chief Executive Officer of NextEra Energy Partners, LP since August 2017. Mr. Robo was the Chairman and Chief Executive Officer of Nextera Energy Partners GP, Inc since March 2014 until August 2017. Mr. Robo has been the Chairman and Chief Executive Officer of NextEra Energy, Inc. (formerly FPL Group Inc.) since December 13, 2013 and July 1, 2012 respectively. He served as the Chief Executive Officer of NextEra Energy Resources, LLC. He served as the President of NextEra Energy, Inc. since December 15, 2006. He served as the Chief Operating Officer of NextEra Energy, Inc. from December 15, 2006 to July 1, 2012. Mr. Robo served as the Chief Executive Officer of Florida Power & Light Company since May 2, 2012 until May 2014. He served as the Chief Operating Officer of NextEra Energy Resources, LLC since December 18, 2006 until June 2012 and its President from July 26, 2002 to June 2012. Mr. Robo served as the President and Chief Operating Officer of Florida Power & Light Co., subsidiary at NextEra Energy, Inc. since December 15, 2006. He was Consultant with Strategic Planning Associates for eight years. In 1992, Mr. Robo joined GE's Corporate Business Development Staff as Manager - Business Development. In 1994, he moved to GE Lighting as General - Manager Distribution Operations. In 1996, he became General Manager for 6 Sigma Worldwide, prior to assuming his Chairman of the Board and Chief Executive Officer for GE International Mexico. Mr. Robo served as the President of NextEra Energy Resources LLC (formerly, FPL Energy LLC), a subsidiary of FPL Group Inc., from July 26, 2002 to December 2006 and Vice President of Corporate Development & Strategy from March 11, 2002 to July 2002. He served as a Vice President of Corporate Development and Strategy at Florida Power & Light Co., and NextEra Energy, Inc. from March 11, 2002 to December 2006. Mr. Robo served as the Principal Executive Officer of Funding Corp., and ESI Tractebel Acquisition Corp. Prior to FPL Group, he served at General Electric Co., for 10 years since joining in 1992. He served as the Chief Executive Officer and President of GE Mexico from 1997 to 1999. He served as the President and Chief Executive Officer of the GE Capital TIP/Modular Space Division of GE Capital (General Electric Capital Corp.) from 1992 to February 2002. From 1984 to 1992, Mr. Robo worked for Mercer Management Consulting and served as a Vice President from 1988 to 1992. Mr. Robo has been the Chairman of Florida Power & Light Company since May 2, 2012. He serves as the Chairman of NextEra Energy Resources, LLC. He serves as a Director of Florida Power & Light Co. Mr. Robo has been a Director of JB Hunt Transport Services Inc., since 2002 and serves as its Lead Director. He has been a Director of Acquisition Corp. since July 2002 and NextEra Energy, Inc. since July 1, 2012. He served as a Director of Elamex SA de CV. He served as a Director of ESI Tractebel Acquisition Corp., and Funding Corp., since July 2002. Mr. Robo holds a BA in European History from Harvard College and an MBA from Harvard Business School in 1988, where he was a Baker Scholar.

CEO Compensation
  • Insufficient data for Jim to compare compensation growth.
  • Insufficient data for Jim to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the NextEra Energy Partners management team in years:

1.8
Average Tenure
47
Average Age
  • The average tenure for the NextEra Energy Partners management team is less than 2 years, this suggests a new team.
Management Team

Jim Robo

TITLE
Chairman & CEO
AGE
55
TENURE
1.8 yrs

John Ketchum

TITLE
President & Director
AGE
47
TENURE
0.2 yrs

Rebecca Kujawa

TITLE
CFO & Director
AGE
42
TENURE
0.2 yrs

James May

TITLE
Controller & Chief Accounting Officer
AGE
41
TENURE
0.2 yrs

Matthew Roskot

TITLE
Director of Investor Relations

Charles Sieving

TITLE
General Counsel
AGE
45
TENURE
1.8 yrs

Mark Hickson

TITLE
Executive VP of Strategy & Corporate Development and Director
AGE
50
TENURE
2.3 yrs

Paul Cutler

TITLE
Treasurer & Assistant Secretary
AGE
58
TENURE
1.8 yrs

William Seeley

TITLE
Corporate Secretary of Nextera Energy Partners GP Inc
Board of Directors Tenure

Average tenure and age of the NextEra Energy Partners board of directors in years:

1.8
Average Tenure
51
Average Age
  • The average tenure for the NextEra Energy Partners board of directors is less than 3 years, this suggests a new board.
Board of Directors

Jim Robo

TITLE
Chairman & CEO
AGE
55
TENURE
1.8 yrs

John Ketchum

TITLE
President & Director
AGE
47
TENURE
1.8 yrs

Rebecca Kujawa

TITLE
CFO & Director
AGE
42
TENURE
0.2 yrs

Mark Hickson

TITLE
Executive VP of Strategy & Corporate Development and Director
AGE
50
TENURE
1.8 yrs

Bob Byrne

TITLE
Director
AGE
56
TENURE
0.4 yrs

Peter Kind

TITLE
Independent Director
COMPENSATION
$195K
AGE
61
TENURE
1.8 yrs

Susan Austin

TITLE
Independent Director
COMPENSATION
$180K
AGE
51
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess NextEra Energy Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NextEra Energy Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NEP News

Simply Wall St News

Who Owns Most Of NextEra Energy Partners LP (NYSE:NEP)?

In this article, I will take a quick look at NextEra Energy Partners LP’s (NYSE:NEP) recent ownership structure – an unconventional investing subject, but an important one. … The impact of a company's ownership structure affects both its short- and long-term performance. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

How Financially Strong Is NextEra Energy Partners LP (NYSE:NEP)?

Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as NextEra Energy Partners LP (NYSE:NEP) with a market-capitalization of US$2.53b, rarely draw their attention. … Let’s take a look at NEP’s debt concentration and assess their financial liquidity to get an idea of their ability to fund strategic acquisitions and grow through cyclical pressures. … View out our latest analysis for NextEra Energy Partners

Simply Wall St -

Does NextEra Energy Partners LP's (NYSE:NEP) Past Performance Indicate A Weaker Future?

Assessing NextEra Energy Partners LP's (NYSE:NEP) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how NextEra Energy Partners is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its renewable energy industry peers. … See our latest analysis for NextEra Energy Partners?

Simply Wall St -

Read This Before Buying NextEra Energy Partners LP (NYSE:NEP) For Its Upcoming $0.42 Dividend

See our latest analysis for NextEra Energy Partners 5 questions to ask before buying a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it the top 25% annual dividend yield payer? … NYSE:NEP Historical Dividend Yield Apr 30th 18 How does NextEra Energy Partners fare? … Relative to peers, NextEra Energy Partners generates a yield of 3.95%, which is high for Renewable Energy stocks but still below the market's top dividend payers.

Simply Wall St -

Does NextEra Energy Partners LP (NYSE:NEP) Have A Place In Your Portfolio?

Over the past 3 years, NextEra Energy Partners LP (NYSE:NEP) has returned an average of 4.00% per year to shareholders in terms of dividend yield. … View our latest analysis for NextEra Energy Partners 5 questions to ask before buying a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … NYSE:NEP Historical Dividend Yield Apr 24th 18 Does NextEra Energy Partners pass our checks?

Simply Wall St -

What Do Current Expectations Tell Us About NextEra Energy Partners LP's (NYSE:NEP) Net Income In The Years Ahead?

To help investors get a top level understanding, I will shine a light on the behaviour of NextEra Energy Partners’s margins to assist in analysing the revenue and cost anatomy behind the earnings expectations for the future and the impact it has on shareholder returns relative to the wider industry. … Margin Calculation for NEP Profit Margin = Net Income ÷ Revenue ∴ Profit Margin = 68.00 Million ÷ 722.00 Million = 9.42% There has been an expansion in NextEra Energy Partners's margin over the past five years, due to a 56.53% average growth in net income surpassing a 34.09% average growth in revenue, indicating that that the previous revenue growth has been acompanied by a growing portion translated in to earnings. … Thus, it is essential to run your own analysis on NextEra Energy Partners's future earnings whilst maintaining a watchful eye over the sustainability of their cost management methods and the runway for top line growth.

Simply Wall St -

What Should We Expect From NextEra Energy Partners LP's (NEP) Earnings Over The Next Few Years?

Today I want to provide a brief commentary on how market analysts view NextEra Energy Partners's earnings growth outlook over the next couple of years and whether the future looks even brighter than the past. … Check out our latest analysis for NextEra Energy Partners Market analysts' consensus outlook for the upcoming year seems buoyant, with earnings rising by a robust 22.56%. … This means that, we can anticipate NextEra Energy Partners will grow its earnings by 45.08% every year for the next couple of years.

Simply Wall St -

What Should Investors Know About NextEra Energy Partners LP's (NEP) Future?

NextEra Energy Partners LP (NYSE:NEP)’s sound earnings growth per share is expected to be a double-digit 33.45% over the next three years. … This illustrates a relatively optimistic outlook in the near term, with a relatively solid earnings per share growth rate of 33.45% over the next few years. … NEP’s triple-digit earnings growth the past couple of years indicates that the company's past performance is supportive of a strong continuation.

Simply Wall St -

How Financially Strong Is NextEra Energy Partners LP (NEP)?

Does NEP’s liquid assets cover its short-term commitments? … NYSE:NEP Net Worth Oct 27th 17 Another important aspect of financial health is liquidity: the company’s ability to meet short-term obligations, including payments to suppliers and employees. … We need to assess NEP's cash and other liquid assets against its upcoming expenses.

Simply Wall St -

NEP Company Info

Description

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.

Details
Name: NextEra Energy Partners, LP
NEP
Exchange: NYSE
Founded: 2014
$2,570,542,971
56,149,912
Website: http://www.investor.nexteraenergypartners.com
Address: NextEra Energy Partners, LP
700 Universe Boulevard,
Juno Beach,
Florida, 33408,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NEP Common Units New York Stock Exchange US USD 27. Jun 2014
DB 1N6 Common Units Deutsche Boerse AG DE EUR 27. Jun 2014
Number of employees
Current staff
Staff numbers
0
NextEra Energy Partners employees.
Industry
Renewable Electricity
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 06:46
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/23
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.