NextEra Energy Partners (NYSE:NEP) Stock Price Down 0.1%

NextEra Energy Partners, LP (NYSE:NEP) shares dropped 0.1% on Monday . The stock traded as low as $25.27 and last traded at $25.30. Approximately 106,407 shares traded hands during trading, a decline of 93% from the average daily volume of 1,422,158 shares. The stock had previously closed at $25.32.

Wall Street Analysts Forecast Growth

NEP has been the topic of a number of research reports. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $32.00 to $25.00 in a report on Thursday, June 13th. BMO Capital Markets reduced their price objective on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Mizuho lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, June 12th. Finally, Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.00.

NextEra Energy Partners Trading Up 1.5 %

The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 8.30 and a beta of 1.05. The business has a 50-day moving average of $25.72 and a 200-day moving average of $28.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, research analysts forecast that NextEra Energy Partners, LP will post 1.74 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a dividend yield of 14.08%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is presently 118.69%.

Institutional Investors Weigh In On NextEra Energy Partners

Hedge funds have recently modified their holdings of the stock. ClearBridge Investments Ltd increased its stake in shares of NextEra Energy Partners by 6.4% during the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after acquiring an additional 250,456 shares during the period. M&G Plc acquired a new position in NextEra Energy Partners during the 1st quarter worth approximately $83,069,000. 1832 Asset Management L.P. increased its position in NextEra Energy Partners by 599.4% during the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock worth $79,142,000 after purchasing an additional 2,230,374 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its stake in shares of NextEra Energy Partners by 23.2% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,087,066 shares of the solar energy provider’s stock worth $33,058,000 after buying an additional 204,845 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of NextEra Energy Partners by 6.2% in the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after buying an additional 46,718 shares during the period. 66.01% of the stock is owned by institutional investors and hedge funds.

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.