NextEra Energy Partners (NYSE:NEP) Stock Price Down 0.8%

NextEra Energy Partners, LP (NYSE:NEP)’s stock price was down 0.8% during trading on Monday . The company traded as low as $24.80 and last traded at $25.05. Approximately 1,884,500 shares traded hands during trading, an increase of 29% from the average daily volume of 1,455,674 shares. The stock had previously closed at $25.24.

Wall Street Analyst Weigh In

Several research firms have issued reports on NEP. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. BMO Capital Markets reduced their target price on 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. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Finally, StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.00.

NextEra Energy Partners Price Performance

The firm has a market capitalization of $2.31 billion, a PE ratio of 8.10 and a beta of 1.03. The firm’s fifty day moving average price is $26.05 and its 200 day moving average price is $28.43. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, equities analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.905 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a dividend yield of 14.65%. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Institutional Trading of NextEra Energy Partners

Several institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC acquired a new stake in NextEra Energy Partners in the 4th quarter valued at $6,818,000. Vanguard Group Inc. grew its position in shares of NextEra Energy Partners by 3.6% in the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after purchasing an additional 22,370 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of NextEra Energy Partners by 13.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,720 shares of the solar energy provider’s stock worth $296,000 after purchasing an additional 1,130 shares in the last quarter. Otter Creek Advisors LLC acquired a new position in shares of NextEra Energy Partners during the 4th quarter worth about $3,061,000. Finally, Caxton Associates LP acquired a new position in shares of NextEra Energy Partners during the 4th quarter worth about $1,509,000. 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.