NextEra Energy Partners (NYSE:NEP) Stock Price Up 0.3%

Shares of NextEra Energy Partners, LP (NYSE:NEP) were up 0.3% during mid-day trading on Tuesday . The stock traded as high as $25.97 and last traded at $25.85. Approximately 215,627 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,419,806 shares. The stock had previously closed at $25.78.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NEP. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. 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. Morgan Stanley cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. BMO Capital Markets dropped 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 report on Monday, July 22nd. Finally, Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Wednesday, June 12th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, NextEra Energy Partners has an average rating of “Hold” and an average price target of $32.67.

NextEra Energy Partners Trading Up 3.7 %

The company has a 50 day moving average of $25.68 and a 200 day moving average of $28.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 8.82 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results 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 business had revenue of $360.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. On average, research analysts predict that NextEra Energy Partners, LP will post 1.74 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a $0.905 dividend. This represents a $3.62 dividend on an annualized basis and a yield of 13.51%. This is a positive change 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 (DPR) is 118.69%.

Institutional Investors Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its holdings in NextEra Energy Partners by 74.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 114,157 shares of the solar energy provider’s stock valued at $3,472,000 after buying an additional 48,842 shares in the last quarter. UBS Group AG boosted its position in shares of NextEra Energy Partners by 12.9% during the 4th quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock valued at $10,215,000 after acquiring an additional 38,363 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of NextEra Energy Partners in the fourth quarter valued at about $6,818,000. Trexquant Investment LP acquired a new stake in NextEra Energy Partners during the fourth quarter worth about $1,852,000. Finally, Franklin Resources Inc. increased its position in NextEra Energy Partners by 100.2% during the fourth quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock worth $948,000 after purchasing an additional 15,604 shares during the last quarter. Institutional investors and hedge funds 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.