Mizuho Cuts NextEra Energy Partners (NYSE:NEP) Price Target to $26.00

NextEra Energy Partners (NYSE:NEP) had its price objective decreased by Mizuho from $33.00 to $26.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Mizuho currently has a neutral rating on the solar energy provider’s stock.

A number of other equities research analysts also recently commented on NEP. Wolfe Research downgraded NextEra Energy Partners from an outperform rating to a peer perform rating in a research report on Thursday, July 25th. BNP Paribas initiated coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an underperform rating and a $15.00 price target for the company. UBS Group cut their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a neutral rating on the stock in a report on Monday, September 30th. Royal Bank of Canada cut shares of NextEra Energy Partners from an outperform rating to a sector perform rating and decreased their target price for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Finally, Jefferies Financial Group assumed coverage on shares of NextEra Energy Partners in a research report on Thursday, September 19th. They issued a buy rating and a $28.00 price target for the company. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $29.54.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $25.24 on Wednesday. NextEra Energy Partners has a 52 week low of $21.11 and a 52 week high of $35.15. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.36 billion, a PE ratio of 7.94 and a beta of 1.06. The company’s 50-day moving average price is $25.52 and its two-hundred day moving average price is $28.01.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that NextEra Energy Partners will post 2.2 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a dividend of $0.905 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 14.34%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 113.84%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Richardson Financial Services Inc. bought a new stake in shares of NextEra Energy Partners in the 4th quarter valued at approximately $27,000. Hexagon Capital Partners LLC grew its position 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 worth $28,000 after acquiring an additional 627 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of NextEra Energy Partners during the 1st quarter worth $36,000. FinTrust Capital Advisors LLC acquired a new position in shares of NextEra Energy Partners during the 1st quarter worth $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after purchasing an additional 1,000 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.