NextEra Energy Partners (NYSE:NEP) Stock Rating Reaffirmed by Barclays

Barclays reissued their underweight rating on shares of NextEra Energy Partners (NYSE:NEP) in a report released on Friday morning, Benzinga reports. The brokerage currently has a $25.00 price target on the solar energy provider’s stock.

Several other analysts have also recently commented on NEP. StockNews.com upgraded shares of NextEra Energy Partners to a sell rating in a report on Thursday, July 25th. UBS Group dropped their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a neutral rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada cut NextEra Energy Partners from an outperform rating to a sector perform rating and reduced their price objective for the company from $38.00 to $30.00 in a research report on Monday, July 1st. Morgan Stanley lowered NextEra Energy Partners from an equal weight rating to an underweight rating and dropped their target price for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Mizuho lowered NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 price target for the company. in a report on Wednesday, June 12th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $30.08.

NextEra Energy Partners Stock Down 2.6 %

NEP stock opened at $25.38 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The firm has a market capitalization of $2.37 billion, a P/E ratio of 8.32 and a beta of 1.06. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $35.15. The company’s 50 day simple moving average is $25.59 and its 200-day simple moving average is $28.09.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 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%. NextEra Energy Partners’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, equities research analysts anticipate that NextEra Energy Partners will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 14.26%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio (DPR) is 118.69%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NEP. Richardson Financial Services Inc. bought a new position in shares of NextEra Energy Partners in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC grew its holdings in NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the period. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners during the first quarter worth approximately $36,000. FinTrust Capital Advisors LLC bought a new stake in NextEra Energy Partners in the first quarter valued at approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the last quarter. 66.01% of the stock is 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.