NextEra Energy Partners (NYSE:NEP) Stock Price Down 0.1%

NextEra Energy Partners, LP (NYSE:NEP)’s stock price fell 0.1% during mid-day trading on Monday . The stock traded as low as $25.27 and last traded at $25.30. 106,407 shares traded hands during trading, a decline of 93% from the average session volume of 1,422,158 shares. The stock had previously closed at $25.32.

Analyst Upgrades and Downgrades

NEP has been the topic of a number of analyst reports. Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. BMO Capital Markets decreased their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, June 12th. Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $38.00 to $30.00 in a research note on Monday, July 1st. Finally, Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and a consensus price target of $33.00.

NextEra Energy Partners Trading Up 1.7 %

The business’s 50-day moving average price is $25.69 and its 200 day moving average price is $28.25. The company has a market cap of $2.42 billion, a P/E ratio of 8.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million during 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 company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. As a group, analysts expect that NextEra Energy Partners, LP will post 1.74 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, August 14th. Shareholders of record on Tuesday, August 6th were paid a $0.905 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 annualized dividend and a yield of 14.01%. NextEra Energy Partners’s payout ratio is 118.69%.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new stake in NextEra Energy Partners during the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC lifted its position in shares of NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after acquiring an additional 627 shares during the period. Heritage Wealth Advisors acquired a new position in NextEra Energy Partners during the fourth quarter worth $33,000. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners during the first quarter worth $36,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in shares of NextEra Energy Partners in the first quarter valued at about $45,000. 66.01% of the stock is currently 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.