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

NextEra Energy Partners, LP (NYSE:NEP) has been assigned a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of equities research analysts recently weighed in on NEP shares. Scotiabank dropped their price objective on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets cut their price target on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. BNP Paribas assumed coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target on the stock. Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group lowered their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th.

NextEra Energy Partners Trading Down 0.8 %

Shares of NEP stock opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The stock’s 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $24.27. The company has a market cap of $1.64 billion, a PE ratio of 8.03 and a beta of 1.07. NextEra Energy Partners has a 1 year low of $15.55 and a 1 year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Research analysts predict that NextEra Energy Partners will post 1.96 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a yield of 20.97%. The ex-dividend date of this dividend was Wednesday, November 6th. 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%.

Hedge Funds Weigh In On NextEra Energy Partners

A number of hedge funds have recently modified their holdings of NEP. Northwestern Mutual Wealth Management Co. lifted its holdings in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in NextEra Energy Partners during the second quarter worth approximately $51,000. Eastern Bank acquired a new position in NextEra Energy Partners in the third quarter valued at $57,000. McIlrath & Eck LLC purchased a new position in NextEra Energy Partners during the third quarter worth approximately $63,000. Finally, International Assets Investment Management LLC purchased a new stake in NextEra Energy Partners during the second quarter valued at about $104,000. 66.01% of the stock is currently owned by hedge funds and other 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.