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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been given an average rating of “Hold” by the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $38.20.

A number of equities analysts recently commented on the stock. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Mizuho downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Wednesday, June 12th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Finally, Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th.

NextEra Energy Partners Trading Down 8.8 %

Shares of NEP stock opened at $25.21 on Thursday. NextEra Energy Partners has a 12-month low of $20.17 and a 12-month high of $59.90. The company has a market capitalization of $2.36 billion, a PE ratio of 8.27 and a beta of 1.04. The firm has a 50 day moving average price of $30.89 and a two-hundred day moving average price of $29.49. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.63. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) EPS. As a group, analysts predict that NextEra Energy Partners will post 1.89 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a $0.8925 dividend. The ex-dividend date was Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 annualized dividend and a dividend yield of 14.16%. NextEra Energy Partners’s dividend payout ratio (DPR) is 117.05%.

Hedge Funds Weigh In On NextEra Energy Partners

Several institutional investors have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its stake in NextEra Energy Partners by 60.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 454 shares during the period. CWM LLC grew its position in NextEra Energy Partners by 160.2% in the 4th 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 period. Newbridge Financial Services Group Inc. increased its stake in NextEra Energy Partners by 46.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock valued at $51,000 after purchasing an additional 532 shares in the last quarter. Gilman Hill Asset Management LLC raised its holdings in NextEra Energy Partners by 5.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock worth $342,000 after buying an additional 575 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of 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 buying an additional 627 shares in the last quarter. 66.01% of the stock is owned by institutional investors and hedge funds.

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.