NextEra Energy Partners (NYSE:NEP) Shares Down 0.1%

NextEra Energy Partners, LP (NYSE:NEPGet Free Report) traded down 0.1% during trading on Friday . The company traded as low as $33.53 and last traded at $33.70. 242,263 shares traded hands during trading, a decline of 83% from the average session volume of 1,434,786 shares. The stock had previously closed at $33.75.

Analysts Set New Price Targets

NEP has been the subject of several research analyst reports. Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price for the company. Raymond James cut their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. Finally, Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.29.

Get Our Latest Report on NextEra Energy Partners

NextEra Energy Partners Trading Down 0.1 %

The firm’s 50-day simple moving average is $30.39 and its 200 day simple moving average is $28.71. The stock has a market cap of $3.15 billion, a P/E ratio of 11.05 and a beta of 1.01. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEPGet Free Report) last posted 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 negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $331.78 million. During the same period last year, the firm earned ($0.17) EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NextEra Energy Partners, LP will post 1.89 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a dividend of $0.8925 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a dividend yield of 10.59%. The ex-dividend date of this dividend was Monday, May 6th. NextEra Energy Partners’s payout ratio is currently 117.05%.

Hedge Funds Weigh In On NextEra Energy Partners

Several large investors have recently bought and sold shares of the stock. CWM LLC boosted its holdings in shares of NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after acquiring an additional 511 shares in the last quarter. Richardson Financial Services Inc. bought a new position in NextEra Energy Partners during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC increased its position in shares of NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares during the period. MV Capital Management Inc. bought a new stake in shares of NextEra Energy Partners in the 4th quarter worth $30,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of NextEra Energy Partners in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

About NextEra Energy Partners

(Get Free Report)

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.

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