NextEra Energy Partners, LP (NYSE:NEP) Receives Consensus Rating of “Buy” from Brokerages

NextEra Energy Partners, LP (NYSE:NEPGet Rating) has earned an average rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $89.14.

Several equities analysts recently weighed in on NEP shares. Royal Bank of Canada raised their price target on shares of NextEra Energy Partners from $80.00 to $86.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 23rd. Morgan Stanley dropped their target price on shares of NextEra Energy Partners from $95.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 20th. StockNews.com raised shares of NextEra Energy Partners from a “sell” rating to a “hold” rating in a research report on Sunday, April 3rd. Credit Suisse Group dropped their target price on shares of NextEra Energy Partners from $87.00 to $78.00 in a research report on Wednesday, April 27th. Finally, KeyCorp dropped their target price on shares of NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 20th.

Shares of NYSE NEP opened at $77.16 on Wednesday. NextEra Energy Partners has a fifty-two week low of $61.31 and a fifty-two week high of $88.80. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 88.69, a PEG ratio of 2.86 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.55 and a current ratio of 1.60. The firm’s 50-day simple moving average is $72.00 and its 200 day simple moving average is $76.77.

NextEra Energy Partners (NYSE:NEPGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $0.42 by $1.30. NextEra Energy Partners had a net margin of 15.13% and a return on equity of 1.58%. The business had revenue of $281.00 million for the quarter, compared to analysts’ expectations of $305.98 million. During the same quarter last year, the firm earned $2.66 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, sell-side analysts predict that NextEra Energy Partners will post 2.62 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, May 5th were paid a dividend of $0.7325 per share. The ex-dividend date was Wednesday, May 4th. This represents a $2.93 annualized dividend and a dividend yield of 3.80%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.71. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 336.78%.

A number of institutional investors have recently added to or reduced their stakes in NEP. Cassady Schiller Wealth Management LLC purchased a new position in NextEra Energy Partners in the 4th quarter valued at approximately $25,000. Amplius Wealth Advisors LLC purchased a new position in NextEra Energy Partners in the 4th quarter valued at approximately $27,000. Lazard Asset Management LLC purchased a new position in NextEra Energy Partners in the 4th quarter valued at approximately $27,000. Harbor Investment Advisory LLC grew its position in shares of NextEra Energy Partners by 300.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 400 shares of the solar energy provider’s stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new position in shares of NextEra Energy Partners during the 1st quarter valued at $36,000. Institutional investors and hedge funds own 81.32% of the company’s stock.

About NextEra Energy Partners (Get Rating)

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, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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