NextEra Energy Partners, LP (NYSE:NEP) Receives $26.69 Consensus PT from Brokerages

Shares of NextEra Energy Partners, LP (NYSE:NEP) have received a consensus rating of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $26.69.

Several research firms recently weighed in on NEP. BMO Capital Markets dropped their price target on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Jefferies Financial Group dropped their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. UBS Group dropped their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. BNP Paribas initiated coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target on the stock. Finally, Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th.

Institutional Investors Weigh In On NextEra Energy Partners

Several large investors have recently modified their holdings of NEP. ClearBridge Investments Ltd boosted its holdings in NextEra Energy Partners by 6.4% in the 1st quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after purchasing an additional 250,456 shares during the period. M&G PLC raised its position in NextEra Energy Partners by 19.3% in the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after purchasing an additional 496,383 shares during the period. M&G Plc purchased a new position in NextEra Energy Partners in the 1st quarter worth $83,069,000. abrdn plc raised its position in NextEra Energy Partners by 6.2% in the 3rd quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock worth $23,483,000 after purchasing an additional 49,400 shares during the period. Finally, Raymond James & Associates increased its position in shares of NextEra Energy Partners by 6.2% in the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after acquiring an additional 46,718 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Down 0.6 %

Shares of NEP stock opened at $19.24 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. NextEra Energy Partners has a 1 year low of $19.03 and a 1 year high of $35.15. The stock has a fifty day moving average of $24.97 and a two-hundred day moving average of $27.41. The firm has a market capitalization of $1.80 billion, a PE ratio of 8.87 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. As a group, research analysts expect that NextEra Energy Partners will post 1.45 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be paid a $0.9175 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $3.67 annualized dividend and a yield of 19.07%. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

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.