NextEra Energy Partners, LP (NYSE:NEP) Given Consensus Rating of “Hold” by Brokerages

NextEra Energy Partners, LP (NYSE:NEP) has been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.21.

Several equities analysts have recently issued reports 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 for the company in a research note on Wednesday, October 9th. Morgan Stanley raised NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a report on Monday, December 2nd. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. CIBC lowered their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $22.00 in a report on Thursday, October 24th.

NextEra Energy Partners Price Performance

Shares of NEP opened at $18.11 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The stock has a market cap of $1.69 billion, a PE ratio of 8.31 and a beta of 1.06. NextEra Energy Partners has a 12-month low of $15.55 and a 12-month high of $35.15. The business has a 50-day simple moving average of $17.74 and a two-hundred day simple moving average of $22.76.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same period in the prior year, the company earned $0.57 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that NextEra Energy Partners will post 1.96 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 20.27%. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s payout ratio is 168.35%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its holdings in shares of NextEra Energy Partners by 150.4% during 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 in the last quarter. EverSource Wealth Advisors LLC bought a new stake in NextEra Energy Partners during the 2nd quarter valued at $51,000. Eastern Bank acquired a new position in NextEra Energy Partners during the third quarter worth $57,000. McIlrath & Eck LLC bought a new position in shares of NextEra Energy Partners in the third quarter valued at $63,000. Finally, Central Pacific Bank Trust Division lifted its stake in shares of NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after buying an additional 3,750 shares in the last quarter. 66.01% of the stock is owned by institutional investors and hedge funds.

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.