By otakuyassine3@gmail.com 
NextEra Energy Partners, LP (NYSE:NEP – Get Free Report) has received a consensus rating of “Hold” from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.00.
Several research firms recently commented on NEP. Jefferies Financial Group decreased their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Barclays reiterated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. BNP Paribas initiated coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target for the company. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Finally, Mizuho decreased their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th.
Read Our Latest Research Report on NEP
NextEra Energy Partners Price Performance
NextEra Energy Partners stock opened at $17.78 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. NextEra Energy Partners has a one year low of $15.55 and a one year high of $35.15. The company has a market cap of $1.66 billion, a P/E ratio of 8.16 and a beta of 1.07. The business has a fifty day moving average of $18.82 and a two-hundred day moving average of $23.73.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. NextEra Energy Partners’s revenue was up 3.6% on a year-over-year basis. As a group, analysts predict that NextEra Energy Partners will post 1.96 earnings per share for the current fiscal year.
NextEra Energy Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were issued a $0.9175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a yield of 20.64%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio is currently 168.35%.
Institutional Trading of NextEra Energy Partners
Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in NextEra Energy Partners in the second quarter worth about $51,000. Eastern Bank bought a new stake in NextEra Energy Partners in the third quarter valued at about $57,000. McIlrath & Eck LLC acquired a new stake in NextEra Energy Partners during the third quarter valued at approximately $63,000. Finally, International Assets Investment Management LLC bought a new position in NextEra Energy Partners during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds own 66.01% of the company’s stock.
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.
Recommended Stories
Receive News & Ratings for NextEra Energy Partners Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NextEra Energy Partners and related companies with MarketBeat.com’s FREE daily email newsletter.