NextEra Energy Partners, LP (NYSE:NEP) Receives $25.21 Consensus Price Target from Brokerages

NextEra Energy Partners, LP (NYSE:NEP) has received a consensus rating of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $24.64.

Several equities analysts have recently commented on the company. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $22.00 in a report on Monday, October 28th. Mizuho reduced their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $22.00 in a report on Thursday, October 24th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 target price for the company. Finally, Scotiabank cut their price target on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th.

NextEra Energy Partners Trading Down 0.1 %

NYSE:NEP opened at $16.77 on Monday. The company has a market cap of $1.57 billion, a PE ratio of 7.69 and a beta of 1.06. The business’s 50 day moving average is $17.57 and its two-hundred day moving average is $22.53. 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 52 week low of $15.55 and a 52 week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same period in the prior year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts predict that NextEra Energy Partners will post 1.96 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a dividend yield of 21.88%. NextEra Energy Partners’s payout ratio is 168.35%.

Institutional Trading of NextEra Energy Partners

A number of hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of NextEra Energy Partners in the second quarter valued at $51,000. Eastern Bank purchased a new position in shares of NextEra Energy Partners during the third quarter valued at $57,000. McIlrath & Eck LLC purchased a new stake in NextEra Energy Partners in the 3rd quarter worth about $63,000. Finally, Central Pacific Bank Trust Division boosted its position in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after acquiring an additional 3,750 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.