NextEra Energy Partners, LP (NYSE:NEP) Receives Average Recommendation of “Hold” from Brokerages

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been given a consensus rating of “Hold” by the fifteen brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $38.79.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. Oppenheimer reaffirmed a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. Barclays lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Raymond James dropped their target price on 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. Finally, StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th.

NextEra Energy Partners Stock Down 0.9 %

NYSE:NEP opened at $28.16 on Thursday. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 9.23 and a beta of 1.07. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $59.90. 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’s fifty day moving average price is $30.90 and its 200 day moving average price is $29.50.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.63. The firm had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. NextEra Energy Partners’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, sell-side analysts forecast that NextEra Energy Partners will post 1.89 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced 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 an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, May 6th. This represents a $3.57 annualized dividend and a yield of 12.68%. NextEra Energy Partners’s dividend payout ratio is presently 117.05%.

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently added to or reduced their stakes in NEP. M&G Plc bought a new stake in NextEra Energy Partners during the 1st quarter valued at approximately $83,069,000. 1832 Asset Management L.P. boosted its stake in NextEra Energy Partners by 599.4% during the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after purchasing an additional 2,230,374 shares during the period. M&G Investment Management Ltd. boosted its stake 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 valued at $91,322,000 after purchasing an additional 648,775 shares during the period. Commerce Bank acquired a new position in NextEra Energy Partners in the 1st quarter valued at approximately $15,597,000. Finally, Verition Fund Management LLC acquired a new position in NextEra Energy Partners in the 4th quarter valued at approximately $14,269,000. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Company Profile

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.