NextEra Energy Partners (NYSE:NEP) Stock Price Up 0.3%

NextEra Energy Partners, LP (NYSE:NEP)’s share price traded up 0.3% on Tuesday . The stock traded as high as $25.97 and last traded at $25.85. 215,627 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,419,806 shares. The stock had previously closed at $25.78.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James downgraded NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. BMO Capital Markets lowered their target price on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Jefferies Financial Group initiated coverage on shares of NextEra Energy Partners in a report on Thursday. They issued a “buy” rating and a $28.00 target price for the company. Finally, StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $32.67.

NextEra Energy Partners Price Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The company’s 50 day simple moving average is $25.68 and its 200 day simple moving average is $28.23. The company has a market capitalization of $2.51 billion, a PE ratio of 8.82 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. During the same period last year, the business earned $0.53 EPS. NextEra Energy Partners’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid 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 13.51%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is currently 118.69%.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds have recently modified their holdings of the business. ClearBridge Investments Ltd boosted its stake in NextEra Energy Partners by 6.4% during the 1st quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after purchasing an additional 250,456 shares during the period. M&G Plc purchased a new stake in shares of NextEra Energy Partners in the first quarter valued at about $83,069,000. 1832 Asset Management L.P. boosted its stake in shares of NextEra Energy Partners by 599.4% during the fourth quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock worth $79,142,000 after buying an additional 2,230,374 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of NextEra Energy Partners by 23.2% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,087,066 shares of the solar energy provider’s stock worth $33,058,000 after buying an additional 204,845 shares during the last quarter. Finally, Raymond James & Associates raised its stake in NextEra Energy Partners by 6.2% during the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after acquiring an additional 46,718 shares during the last quarter. 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.