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

NextEra Energy Partners, LP (NYSE:NEP) has received an average recommendation of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $26.69.

NEP has been the subject of several research reports. Mizuho lowered 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 report on Wednesday, October 9th. UBS Group lowered their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Morgan Stanley cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Barclays reaffirmed an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $22.00 in a research report on Thursday, October 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NEP. M&G Plc acquired a new position in NextEra Energy Partners during the 1st quarter valued at approximately $83,069,000. Commerce Bank acquired a new position in NextEra Energy Partners during the 1st quarter valued at approximately $15,597,000. Swedbank AB acquired a new position in NextEra Energy Partners during the 1st quarter valued at approximately $9,927,000. ClearBridge Investments Ltd increased 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 valued at $125,176,000 after purchasing an additional 250,456 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in NextEra Energy Partners during the 2nd quarter valued at approximately $5,452,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $19.24 on Wednesday. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 8.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. NextEra Energy Partners has a 1 year low of $19.17 and a 1 year high of $35.15. The firm has a 50-day moving average of $25.34 and a two-hundred day moving average of $27.58.

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). The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. NextEra Energy Partners’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. On average, research analysts forecast that NextEra Energy Partners will post 1.77 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a dividend yield of 19.07%. The ex-dividend date is Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is 166.06%.

About NextEra Energy Partners

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.