NextEra Energy Partners, LP (NYSE:NEP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been given an average recommendation of “Hold” by the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $25.21.

A number of research analysts recently weighed in on NEP shares. Jefferies Financial Group dropped their price target on shares of 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. BNP Paribas started coverage on NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 target price on the stock. Mizuho reduced their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. 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 report on Monday, September 30th. Finally, Barclays restated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in shares of NextEra Energy Partners by 2.0% in the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after acquiring an additional 509 shares during the period. Quantbot Technologies LP lifted its holdings in NextEra Energy Partners by 83.4% during the 2nd quarter. Quantbot Technologies LP now owns 149,718 shares of the solar energy provider’s stock worth $4,138,000 after purchasing an additional 68,084 shares in the last quarter. Virtu Financial LLC bought a new position in NextEra Energy Partners in the 2nd quarter worth about $1,377,000. Garner Asset Management Corp grew its holdings in NextEra Energy Partners by 8.1% during the 2nd quarter. Garner Asset Management Corp now owns 25,250 shares of the solar energy provider’s stock valued at $698,000 after buying an additional 1,900 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners during the second quarter valued at about $51,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Down 0.8 %

NEP stock opened at $18.11 on Monday. The firm has a market capitalization of $1.69 billion, a PE ratio of 8.31 and a beta of 1.06. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a twelve month low of $15.55 and a twelve month high of $35.15. The stock’s 50 day moving average is $17.74 and its 200-day moving average is $22.76.

NextEra Energy Partners (NYSE:NEP) last issued 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 company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. NextEra Energy Partners’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. Sell-side analysts expect that NextEra Energy Partners will post 1.96 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 20.27%. The ex-dividend date was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 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.