NextEra Energy Partners (NYSE:NEP) Shares Up 0.5%

NextEra Energy Partners, LP (NYSE:NEP) traded up 0.5% on Monday . The stock traded as high as $27.43 and last traded at $27.16. 237,989 shares were traded during trading, a decline of 83% from the average session volume of 1,419,455 shares. The stock had previously closed at $27.03.

Wall Street Analyst Weigh In

Several analysts have commented on the company. BMO Capital Markets lowered their price target on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Barclays downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $32.00 to $25.00 in a report on Thursday, June 13th. Finally, Mizuho lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Wednesday, June 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus target price of $32.67.

NextEra Energy Partners Price Performance

The business’s 50 day moving average price is $25.64 and its 200-day moving average price is $28.20. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.52 billion, a PE ratio of 8.90 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. As a group, analysts forecast that NextEra Energy Partners, LP will post 1.74 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 13.42%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is currently 118.69%.

Institutional Investors Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NEP. UBS Group AG raised its stake in shares of NextEra Energy Partners by 12.9% in the 4th quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock valued at $10,215,000 after purchasing an additional 38,363 shares in the last quarter. Clearbridge Investments LLC bought a new position in NextEra Energy Partners during the 4th quarter worth approximately $6,818,000. Trexquant Investment LP bought a new position in NextEra Energy Partners during the 4th quarter worth approximately $1,852,000. Franklin Resources Inc. grew its position in shares of NextEra Energy Partners by 100.2% in the 4th quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock worth $948,000 after acquiring an additional 15,604 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of NextEra Energy Partners in the 4th quarter valued at approximately $267,000. 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.