NextEra Energy Partners (NYSE:NEP) Trading Up 0.3%

NextEra Energy Partners, LP (NYSE:NEP) shot up 0.3% on Tuesday . The company traded as high as $25.97 and last traded at $25.85. 215,627 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,419,806 shares. The stock had previously closed at $25.78.

Wall Street Analysts Forecast Growth

NEP has been the topic of several research analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. BMO Capital Markets dropped their price objective on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. Finally, Raymond James downgraded shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Four investment 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.00.

NextEra Energy Partners Trading Down 1.4 %

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The business has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $28.27. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 8.48 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that NextEra Energy Partners, LP will post 1.74 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, August 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a dividend yield of 14.24%. NextEra Energy Partners’s payout ratio is 118.69%.

Hedge Funds Weigh In On NextEra Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of NEP. Ameritas Advisory Services LLC raised its stake in shares of NextEra Energy Partners by 1.4% in the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after acquiring an additional 412 shares during the period. Pathway Financial Advisers LLC increased its holdings in NextEra Energy Partners by 0.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares during the last quarter. Arizona State Retirement System raised its position in shares of NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after purchasing an additional 509 shares in the last quarter. Newbridge Financial Services Group Inc. raised its position in shares of NextEra Energy Partners by 46.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock valued at $51,000 after purchasing an additional 532 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its stake in shares of NextEra Energy Partners by 4.6% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock valued at $362,000 after buying an additional 581 shares during the last quarter. Hedge funds and other 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.