NextEra Energy Partners (NYSE:NEP) Stock Price Down 3.5%

Shares of NextEra Energy Partners, LP (NYSE:NEP) traded down 3.5% during trading on Monday . The company traded as low as $26.55 and last traded at $26.66. 361,013 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,413,252 shares. The stock had previously closed at $27.64.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. restated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Barclays downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Finally, Royal Bank of Canada cut NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $38.00 to $30.00 in a report on Monday. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.20.

NextEra Energy Partners Trading Down 5.3 %

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 moving average of $30.93 and a 200 day moving average of $29.52. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 8.50 and a beta of 1.04.

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

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a $0.8925 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 13.64%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is currently 117.05%.

Hedge Funds Weigh In On NextEra Energy Partners

A number of institutional investors have recently bought and sold shares of the business. Pathway Financial Advisers LLC acquired a new position in NextEra Energy Partners during the first quarter worth approximately $1,441,000. Cetera Investment Advisers increased its position in NextEra Energy Partners by 574.0% during the first quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider’s stock worth $1,917,000 after buying an additional 54,267 shares during the last quarter. Redwood Grove Capital LLC increased its position in NextEra Energy Partners by 0.9% during the first quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock worth $23,359,000 after buying an additional 7,200 shares during the last quarter. Swedbank AB acquired a new position in NextEra Energy Partners during the first quarter worth approximately $9,927,000. Finally, Strategic Wealth Partners Ltd. increased its position in NextEra Energy Partners by 7.3% during the first quarter. Strategic Wealth Partners Ltd. now owns 138,796 shares of the solar energy provider’s stock worth $4,175,000 after buying an additional 9,394 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.