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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have received a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $33.79.

Several research firms have commented on NEP. JPMorgan Chase & Co. reissued an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a report on Thursday. BMO Capital Markets decreased their price objective on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday. Finally, Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEP. Vanguard Group Inc. raised its position in NextEra Energy Partners by 3.9% in the third quarter. Vanguard Group Inc. now owns 619,780 shares of the solar energy provider’s stock valued at $18,407,000 after purchasing an additional 23,008 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of NextEra Energy Partners by 26.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 166,588 shares of the solar energy provider’s stock worth $5,066,000 after acquiring an additional 34,553 shares during the last quarter. Connective Portfolio Management LLC purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth about $547,000. A. D. Beadell Investment Counsel Inc. increased its position in shares of NextEra Energy Partners by 6.5% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 113,496 shares of the solar energy provider’s stock worth $3,451,000 after acquiring an additional 6,956 shares during the last quarter. Finally, Kaizen Financial Strategies purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth about $252,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Trading Up 1.0 %

NYSE:NEP opened at $26.20 on Monday. The stock has a 50-day simple moving average of $29.43 and a 200-day simple moving average of $29.04. The stock has a market cap of $2.45 billion, a P/E ratio of 8.59 and a beta of 1.04. NextEra Energy Partners has a 1 year low of $20.17 and a 1 year high of $57.29. 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 released its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, analysts anticipate that NextEra Energy Partners will post 1.72 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be given a $0.905 dividend. The ex-dividend date is Tuesday, August 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.82%. NextEra Energy Partners’s dividend payout ratio (DPR) is 117.05%.

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.