NextEra Energy Partners (NYSE:NEP) Downgraded by Barclays to “Underweight”

Barclays lowered shares of NextEra Energy Partners (NYSE:NEP) from an equal weight rating to an underweight rating in a research report released on Thursday, Marketbeat Ratings reports. They currently have $25.00 price target on the solar energy provider’s stock, down from their previous price target of $32.00.

Several other equities research analysts have also recently commented on the company. Marathon Capitl restated an equal weight rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Raymond James cut their price target on NextEra Energy Partners from $50.00 to $45.00 and set an outperform rating for the company in a research note on Wednesday, April 3rd. Oppenheimer reiterated a market perform rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reiterated an underweight rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded NextEra Energy Partners to a sell rating in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $38.79.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $27.95 on Thursday. NextEra Energy Partners has a 12 month low of $20.17 and a 12 month high of $63.18. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.31. The business has a 50 day simple moving average of $30.92 and a 200-day simple moving average of $29.33. The stock has a market capitalization of $2.61 billion, a PE ratio of 9.16 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The business had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that NextEra Energy Partners will post 1.89 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, May 15th. Shareholders of record on Tuesday, May 7th were issued a $0.8925 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, May 6th. This represents a $3.57 annualized dividend and a yield of 12.77%. NextEra Energy Partners’s dividend payout ratio is 117.05%.

Institutional Trading of NextEra Energy Partners

Large investors have recently bought and sold shares of the company. CWM LLC grew its holdings in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after purchasing an additional 511 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in NextEra Energy Partners in the fourth quarter valued at $27,000. Hexagon Capital Partners LLC grew its holdings in NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of NextEra Energy Partners during the fourth quarter valued at $30,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of NextEra Energy Partners during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.