NextEra Energy Partners, LP (NYSE:NEP) Receives Average Recommendation of “Hold” from Analysts

NextEra Energy Partners, LP (NYSE:NEP) has earned a consensus rating of “Hold” from the sixteen analysts that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.08.

NEP has been the subject of several analyst reports. Barclays restated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. UBS Group dropped their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note 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 company from $38.00 to $30.00 in a research note on Monday, July 1st. Finally, StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th.

Hedge Funds Weigh In On NextEra Energy Partners

A number of large investors have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new stake in NextEra Energy Partners in the 4th quarter valued at $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after buying an additional 627 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of NextEra Energy Partners in the first quarter valued at about $36,000. FinTrust Capital Advisors LLC acquired a new position in shares of NextEra Energy Partners in the first quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 1.0 %

NYSE:NEP opened at $26.06 on Friday. The company has a market cap of $2.44 billion, a P/E ratio of 8.54 and a beta of 1.05. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $35.15. The business has a 50 day moving average price of $25.62 and a two-hundred day moving average price of $28.10. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping the consensus estimate 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 business had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, analysts expect 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. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a dividend yield of 13.89%. The ex-dividend date of this dividend was Tuesday, August 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is currently 118.69%.

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.