NextEra Energy Partners, LP (NYSE:NEP) Given Average Rating of “Hold” by Analysts

NextEra Energy Partners, LP (NYSE:NEP) has been given a consensus rating of “Hold” by the fifteen analysts that are presently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $41.60.

Several equities analysts have commented on the stock. Raymond James dropped their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. CIBC cut NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, January 9th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Finally, Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th.

NextEra Energy Partners Trading Down 1.2 %

NYSE NEP opened at $30.15 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $28.62 and a 200 day simple moving average of $27.87. NextEra Energy Partners has a 12 month low of $20.17 and a 12 month high of $63.89. The firm has a market capitalization of $2.82 billion, a P/E ratio of 9.89 and a beta of 1.01.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The company had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that NextEra Energy Partners will post 1.54 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.8925 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 11.84%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 115.41%.

Institutional Trading of NextEra Energy Partners

A number of institutional investors have recently modified their holdings of the business. FMR LLC increased its position in shares of NextEra Energy Partners by 18.9% during the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after buying an additional 774,665 shares during the period. ClearBridge Investments Ltd grew its stake in NextEra Energy Partners by 9.1% during the fourth quarter. ClearBridge Investments Ltd now owns 3,910,977 shares of the solar energy provider’s stock valued at $118,933,000 after acquiring an additional 327,641 shares in the last quarter. M&G Investment Management Ltd. increased its holdings in NextEra Energy Partners by 27.1% during the 4th quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock worth $91,322,000 after acquiring an additional 648,775 shares during the period. 1832 Asset Management L.P. lifted its stake in NextEra Energy Partners by 599.4% in the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock worth $79,142,000 after purchasing an additional 2,230,374 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in NextEra Energy Partners by 18.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,663,736 shares of the solar energy provider’s stock valued at $50,594,000 after purchasing an additional 261,523 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

About NextEra Energy Partners

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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.