Company Update (NYSE:NEE): NextEra Energy Partners, LP announces offering of common units

[PR Newswire] – JUNO BEACH, Fla., Feb. 22, 2016 /PRNewswire/ — NextEra Energy Partners, LP (NEP) today announced that it has entered into an agreement with Morgan Stanley to sell 9,700,000 newly issued common units representing limited partner interests in NextEra Energy Partners, subject to customary conditions. The underwriter will have a 30-day option to purchase up to an additional 1,455,000 common units from NextEra Energy Partners. NextEra Energy Partners intends to use the net proceeds of the offering to fund, in part, its recently announced acquisition of the Seiling I & II Wind Energy Centers. Read more on this. NextEra Energy, Inc. (NEE) , with a current market cap of $53.28B, opened this morning at $115.10. During the trading session, NEE traded between $114.75 to $116.53 with a trailing 52-week range being $93.74 to $116.53. NEE shares are currently priced at 18.59x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 11.76x earnings multiple for the same period. The company pays shareholders $3.48 per share annually in dividends, yielding 3.03%. Consensus earnings for the current quarter by the 10 sell-side analysts covering the stock is an estimate of $1.33 per share, which would be $0.08 worse than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $6.15 which would be a $0.44 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.10 Billion. If reported, that would be a 0.00% decrease over the year-ago quarter. In terms of ratings, Robert W. Baird upgraded NEE from Neutral to Outperform (Jan 29, 2016). Previously, Scotia Howard Weil Initiated NEE at to Sector Outperform. Investors should keep in mind is that the average price target is $120.89, which is 5.03% above where the stock opened this morning. See more in (NYSE:NEE) Similar Articles: Company Update: NextEra Energy Inc (NYSE:NEE) – NextEra Energy Partners, LP launches public offering of common units Stock Update: NextEra Energy Inc (NYSE:NEE) – NextEra Energy and NextEra Energy Partners to present at the 2015 Barclays CEO Energy-Power Conference Market Update: NextEra Energy Inc (NYSE:NEE) – NextEra Energy announces settlement rate for corporate units issued in September 2012