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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have received an average recommendation of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $43.88.

A number of equities research analysts have recently commented on the stock. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Tuesday, January 9th. Barclays began coverage on NextEra Energy Partners in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price on the stock. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Raymond James lowered their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th.

Institutional Trading of NextEra Energy Partners

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of NextEra Energy Partners by 4.9% during the 1st quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock worth $634,357,000 after buying an additional 356,265 shares during the last quarter. FMR LLC raised its position in NextEra Energy Partners by 18.9% during the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock worth $144,506,000 after acquiring an additional 774,665 shares during the last quarter. ClearBridge Investments Ltd raised its position in NextEra Energy Partners by 9.1% during the fourth quarter. ClearBridge Investments Ltd now owns 3,910,977 shares of the solar energy provider’s stock worth $118,933,000 after acquiring an additional 327,641 shares during the last quarter. M&G Investment Management Ltd. lifted its holdings in shares of NextEra Energy Partners by 27.1% in the fourth quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock valued at $91,322,000 after purchasing an additional 648,775 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of NextEra Energy Partners by 599.4% in the fourth quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after purchasing an additional 2,230,374 shares during the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $27.37 on Friday. The stock has a market cap of $2.56 billion, a P/E ratio of 12.85 and a beta of 1.00. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $64.43. The stock has a 50 day moving average of $28.35 and a two-hundred day moving average of $27.18. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The business had revenue of $232.00 million during the quarter, compared to analyst estimates of $360.03 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. On average, research analysts forecast that NextEra Energy Partners will post 0.9 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were issued a $0.88 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 12.86%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is currently 165.26%.

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.