NextEra Energy Partners (NYSE:NEP) Stock Price Up 6.9%

NextEra Energy Partners, LP (NYSE:NEP)’s share price shot up 6.9% on Tuesday . The company traded as high as $29.53 and last traded at $29.35. 519,042 shares traded hands during trading, a decline of 62% from the average session volume of 1,348,543 shares. The stock had previously closed at $27.46.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price for the company. JPMorgan Chase & Co. increased their price target on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Finally, Raymond James dropped their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.88.

NextEra Energy Partners Stock Up 7.9 %

The company has a market capitalization of $2.77 billion, a PE ratio of 13.99 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $28.31 and its 200 day simple moving average is $27.26.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.38). NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The firm had revenue of $232.00 million during the quarter, compared to the consensus estimate of $360.03 million. As a group, analysts forecast that NextEra Energy Partners, LP will post 0.9 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a $0.88 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $3.52 dividend on an annualized basis and a yield of 11.88%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is 165.26%.

Hedge Funds Weigh In On NextEra Energy Partners

Several large investors have recently modified their holdings of NEP. CWM LLC raised its position in shares of NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after purchasing an additional 511 shares during the period. Richardson Financial Services Inc. purchased a new stake in NextEra Energy Partners during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC lifted its position in shares of NextEra Energy Partners by 208.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the period. MV Capital Management Inc. purchased a new position in NextEra Energy Partners during the 4th quarter valued at about $30,000. Finally, Heritage Wealth Advisors bought a new stake in NextEra Energy Partners during the 4th quarter valued at about $33,000. Institutional investors own 66.01% of the company’s stock.

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.