Market Update: NextEra Energy Inc (NYSE:NEE) – NextEra Energy Partners, LP announces approximately 285-megawatt acquisition of the Cedar Bluff and Golden Hills Wind Energy Centers

[PR Newswire] – JUNO BEACH, Fla., July 5, 2016 /PRNewswire/ — NextEra Energy Partners, LP (NEP) today announced that it has completed the acquisition of approximately 285 megawatts (MW) of contracted renewables projects from a subsidiary of its sponsor, NextEra Energy Resources, LLC. Included in the acquisition are two modern wind facilities, commissioned in 2015 with GE technology. The acquisition expands the contracted renewable energy projects in NextEra Energy Partners’ portfolio to approximately 2,656 MW (excluding ownership interests in equity method investments). “This transaction once again demonstrates the strong and visible runway for future growth opportunities from our sponsor, NextEra Energy Resources, which we believe is a core strength of the partnership’s value proposition,” said Jim Robo, chairman and chief executive officer. Read more on this. NextEra Energy, Inc. (NEE) , with a current value of $59.87B, ended session yesterday at $129.73. Looking at the stock, its one day range is $129.51 to $130.03 with its 52-week range being $93.74 to $131.27. NEE shares are currently priced at 21.03x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 15.26x earnings multiple. And for passive income investors, the company pays shareholders $3.48 per share annually in dividends, yielding 2.68%. Consensus earnings for the current quarter by the 10 sell-side analysts covering the stock is an estimate of $1.55 per share, which would be $0.01 worse than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $6.17 is a $0.46 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.33 Billion. If reported, that would be a 0.69% decrease over the year-ago quarter. More recently, Macquarie downgraded NEE from Outperform to Neutral (Apr 5, 2016). Previously, Robert W. Baird upgraded NEE from Neutral to Outperform. The average price target for NEE shares by the analysts covering it is $129.19, which is 0.42% below where the stock opened. See more in (NYSE:NEE) Similar Articles: Market Update: NextEra Energy Inc (NYSE:NEE) – NextEra Energy Partners, LP first-quarter 2016 financial results available on partnership’s website Company Update: NextEra Energy Inc (NYSE:NEE) – NextEra Energy Partners, LP announces date for release of first-quarter 2016 financial results Company Update (NYSE:NEE): NextEra Energy Partners, LP announces offering of common units