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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been assigned a consensus rating of “Hold” from the seventeen research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $33.00.

NEP has been the topic of several recent research reports. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Morgan Stanley downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Wednesday, June 12th. Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Finally, Barclays cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $32.00 to $25.00 in a research note on Thursday, June 13th.

NextEra Energy Partners Stock Down 0.3 %

NYSE:NEP opened at $24.13 on Tuesday. The stock has a 50-day simple moving average of $25.82 and a 200 day simple moving average of $28.33. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $51.28. The company has a market cap of $2.26 billion, a PE ratio of 7.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. On average, sell-side analysts expect that NextEra Energy Partners will post 1.74 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a dividend yield of 15.00%. NextEra Energy Partners’s dividend payout ratio is 118.69%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC acquired a new stake in NextEra Energy Partners in the fourth quarter valued at approximately $6,818,000. Vanguard Group Inc. boosted its holdings in shares of NextEra Energy Partners by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after acquiring an additional 22,370 shares in the last quarter. Otter Creek Advisors LLC bought a new stake in NextEra Energy Partners during the 4th quarter worth $3,061,000. Caxton Associates LP acquired a new position in NextEra Energy Partners in the 4th quarter worth about $1,509,000. Finally, Cetera Investment Advisers increased its holdings in NextEra Energy Partners by 574.0% in the 1st quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider’s stock worth $1,917,000 after purchasing an additional 54,267 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.