NextEra Energy Partners, LP (NYSE:NEP) Given Average Rating of “Moderate Buy” by Analysts

Shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating) have received an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $78.82.

NEP has been the subject of several research analyst reports. Guggenheim decreased their price objective on NextEra Energy Partners from $81.00 to $74.00 in a research report on Tuesday, May 9th. KeyCorp reduced their price target on NextEra Energy Partners from $83.00 to $72.00 in a research report on Tuesday, April 18th. Royal Bank of Canada reduced their price target on NextEra Energy Partners from $74.00 to $73.00 in a research report on Monday. StockNews.com initiated coverage on NextEra Energy Partners in a research report on Thursday, May 18th. They set a “sell” rating for the company. Finally, TheStreet downgraded NextEra Energy Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, March 7th.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $59.98 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.39 and a quick ratio of 1.33. The stock has a market cap of $5.33 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 4.00 and a beta of 0.89. The stock has a 50-day moving average of $60.17 and a 200-day moving average of $68.61. NextEra Energy Partners has a one year low of $51.58 and a one year high of $86.06.

NextEra Energy Partners (NYSE:NEP – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The solar energy provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.48). NextEra Energy Partners had a net margin of 25.91% and a return on equity of 2.38%. The business had revenue of $301.00 million during the quarter, compared to analyst estimates of $355.92 million. During the same quarter in the prior year, the firm posted $1.72 earnings per share. NextEra Energy Partners’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that NextEra Energy Partners will post 1.35 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, May 5th were paid a $0.8425 dividend. This represents a $3.37 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend was Thursday, May 4th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.81. NextEra Energy Partners’s dividend payout ratio is 89.39%.

Insider Activity at NextEra Energy Partners

In other NextEra Energy Partners news, Director Peter H. Kind purchased 1,750 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were acquired at an average price of $56.89 per share, for a total transaction of $99,557.50. Following the purchase, the director now owns 32,340 shares in the company, valued at $1,839,822.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NextEra Energy Partners

Large investors have recently added to or reduced their stakes in the business. Atticus Wealth Management LLC bought a new position in NextEra Energy Partners during the 4th quarter worth $28,000. Castle Wealth Management LLC bought a new position in NextEra Energy Partners during the 3rd quarter worth $35,000. Armstrong Advisory Group Inc. bought a new position in NextEra Energy Partners during the 4th quarter worth $35,000. Baldwin Brothers LLC MA bought a new position in NextEra Energy Partners during the 4th quarter worth $35,000. Finally, Global Wealth Management Investment Advisory Inc. bought a new position in NextEra Energy Partners during the 1st quarter worth $36,000. Institutional investors own 83.05% of the company’s stock.

About NextEra Energy Partners

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NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.