NextEra Energy Partners (NYSE:NEP) Trading Up 0%

NextEra Energy Partners, LP (NYSE:NEP)’s share price was up 0% during mid-day trading on Wednesday . The stock traded as high as $25.63 and last traded at $25.42. Approximately 111,549 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,416,361 shares. The stock had previously closed at $25.41.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Mizuho downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Wednesday, June 12th. BMO Capital Markets lowered their price objective on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Wolfe Research downgraded shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered shares of 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 note on Monday, July 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.00.

NextEra Energy Partners Stock Up 0.3 %

The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 8.33 and a beta of 1.05. The business has a 50 day moving average of $25.69 and a 200 day moving average of $28.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data 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. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. On average, equities analysts anticipate that NextEra Energy Partners, LP will post 1.74 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a dividend yield of 14.20%. The ex-dividend date of this dividend was Tuesday, August 6th. 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%.

Institutional Investors Weigh In On NextEra Energy Partners

Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in shares of NextEra Energy Partners during the second quarter worth about $639,000. Cetera Investment Advisers raised its holdings in shares of NextEra Energy Partners by 10.6% during the second quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock worth $1,948,000 after acquiring an additional 6,769 shares during the period. Granite Bay Wealth Management LLC acquired a new position in NextEra Energy Partners in the 2nd quarter worth $418,000. Pathway Financial Advisers LLC boosted its stake in NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in NextEra Energy Partners by 40.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock worth $294,000 after purchasing an additional 3,064 shares in the last quarter. Institutional investors and hedge funds 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.