NextEra Energy Partners (NYSE:NEP) Stock Price Down 0.1%

NextEra Energy Partners, LP (NYSE:NEP)’s stock price dropped 0.1% during mid-day trading on Monday . The stock traded as low as $25.27 and last traded at $25.30. Approximately 106,407 shares were traded during trading, a decline of 93% from the average daily volume of 1,422,158 shares. The stock had previously closed at $25.32.

Analyst Ratings Changes

NEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. Royal Bank of Canada cut NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $38.00 to $30.00 in a research report on Monday, July 1st. Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research report on Wednesday, June 12th. Barclays cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Finally, Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

NextEra Energy Partners Trading Up 1.7 %

The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $25.69 and a 200-day moving average price of $28.25. The firm has a market capitalization of $2.42 billion, a PE ratio of 8.33 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. Analysts expect that NextEra Energy Partners, LP will post 1.74 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.905 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 annualized dividend and a yield of 14.01%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Hedge Funds Weigh In On NextEra Energy Partners

Institutional investors have recently made changes to their positions in the stock. Richardson Financial Services Inc. bought a new position in NextEra Energy Partners during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC raised its holdings in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after acquiring an additional 627 shares in the last quarter. Heritage Wealth Advisors purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth $33,000. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners during the first quarter worth $36,000. Finally, FinTrust Capital Advisors LLC bought a new stake in NextEra Energy Partners during the first quarter worth approximately $45,000. 66.01% of the stock is owned by institutional investors.

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.