The Goldman Sachs Group Cuts NextEra Energy Partners (NYSE:NEP) Price Target to $88.00

NextEra Energy Partners (NYSE:NEPGet Rating) had its target price reduced by The Goldman Sachs Group from $102.00 to $88.00 in a report published on Thursday morning, Stock Target Advisor reports. The Goldman Sachs Group currently has a buy rating on the solar energy provider’s stock.

Other analysts also recently issued research reports about the company. TheStreet upgraded NextEra Energy Partners from a c rating to a b- rating in a research report on Thursday, June 30th. Morgan Stanley dropped their target price on NextEra Energy Partners from $93.00 to $86.00 and set an equal weight rating for the company in a research report on Monday, June 13th. UBS Group set a $90.00 target price on NextEra Energy Partners in a research report on Monday, June 20th. Credit Suisse Group boosted their target price on NextEra Energy Partners from $79.00 to $90.00 and gave the stock an outperform rating in a research report on Tuesday, September 13th. Finally, CIBC assumed coverage on NextEra Energy Partners in a research note on Thursday, June 9th. They issued a neutral rating and a $79.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $86.00.

NextEra Energy Partners Stock Performance

Shares of NEP opened at $79.84 on Thursday. The company has a market cap of $6.70 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $81.66 and a 200-day moving average price of $76.68. NextEra Energy Partners has a 12-month low of $61.31 and a 12-month high of $88.80.

NextEra Energy Partners (NYSE:NEPGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The solar energy provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $2.31. The firm had revenue of $362.00 million during the quarter, compared to the consensus estimate of $345.09 million. NextEra Energy Partners had a return on equity of 4.21% and a net margin of 39.66%. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.97) EPS. As a group, equities analysts forecast that NextEra Energy Partners will post 4.52 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Thursday, August 4th were paid a dividend of $0.7625 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.73. This represents a $3.05 annualized dividend and a dividend yield of 3.82%. NextEra Energy Partners’s payout ratio is 68.54%.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV purchased a new position in shares of NextEra Energy Partners during the first quarter valued at approximately $36,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of NextEra Energy Partners during the first quarter valued at approximately $36,000. Elequin Capital LP purchased a new position in shares of NextEra Energy Partners during the first quarter valued at approximately $45,000. Lazard Asset Management LLC increased its stake in shares of NextEra Energy Partners by 69.6% during the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after buying an additional 224 shares during the period. Finally, Exane Derivatives purchased a new position in shares of NextEra Energy Partners during the first quarter valued at approximately $63,000. 83.22% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Company Profile

(Get Rating)

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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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