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

[PR Newswire] – JUNO BEACH, Fla., Feb. 23, 2016 /PRNewswire/ — NextEra Energy Partners, LP (NEP) today announced the pricing of a registered underwritten offering of 9,700,000 common units representing limited partner interests in NextEra Energy Partners, LP at a public offering price of $26.00 per common unit. The underwriter has 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) , valued at $53.18B, ended session yesterday at $115.70. A quick look at the market, the company’s stock traded between $115.09 and $115.85 and has traded between $93.74 and $116.53 over the past year. Priced at 18.59x this year’s forecasted earnings, NEE shares are relatively expensive compared to the industry ’s 11.76x forward p/e ratio. And for income investors, the company pays shareholders $3.48 per share annually in dividends, yielding 3.03%. In a review of the consensus earnings estimate this quarter, 10 sell-side analysts are looking at $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 based on a consensus revenue forecast of the current quarter of $4.10 Billion. If realized, 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 4.49% above where the stock opened this morning. See more in (NYSE:NEE) Similar Articles: Company Update (NYSE:NEE): NextEra Energy Partners, LP announces offering of common units 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
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