NextEra Energy Partners (NYSE:NEP) Shares Up 0%

NextEra Energy Partners, LP (NYSE:NEP)’s share price traded up 0% during trading on Wednesday . The company traded as high as $25.63 and last traded at $25.42. 111,549 shares changed hands during trading, a decline of 92% from the average session volume of 1,416,361 shares. The stock had previously closed at $25.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Raymond James cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Thursday, May 23rd. StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Barclays downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. Finally, Morgan Stanley cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $31.00 to $20.00 in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners has an average rating of “Hold” and an average price target of $33.00.

NextEra Energy Partners Trading Up 0.3 %

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 stock has a market capitalization of $2.38 billion, a P/E ratio of 8.33 and a beta of 1.05. The firm’s 50 day moving average price is $25.69 and its 200 day moving average price is $28.25.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities research analysts expect that NextEra Energy Partners, LP will post 1.74 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.905 dividend. This represents a $3.62 annualized dividend and a yield of 14.20%. 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. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Institutional Trading of NextEra Energy Partners

Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of NextEra Energy Partners by 74.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 114,157 shares of the solar energy provider’s stock valued at $3,472,000 after purchasing an additional 48,842 shares in the last quarter. UBS Group AG grew its stake in shares of NextEra Energy Partners by 12.9% in the fourth quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock worth $10,215,000 after acquiring an additional 38,363 shares during the period. Clearbridge Investments LLC purchased a new position in shares of NextEra Energy Partners during the fourth quarter valued at approximately $6,818,000. Trexquant Investment LP purchased a new position in shares of NextEra Energy Partners in the 4th quarter worth $1,852,000. Finally, Franklin Resources Inc. raised its position in NextEra Energy Partners by 100.2% in the fourth quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock worth $948,000 after acquiring an additional 15,604 shares during the period. Institutional investors own 66.01% of the company’s stock.

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.