NextEra Energy Partners (NYSE:NEP) Upgraded at Raymond James

Raymond James upgraded shares of NextEra Energy Partners (NYSE:NEP) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat Ratings reports. They currently have $60.00 price target on the solar energy provider’s stock.

A number of other brokerages have also weighed in on NEP. CIBC upgraded shares of NextEra Energy Partners from a sector perform rating to a sector outperform rating in a research note on Monday, May 8th. Bank of America raised shares of NextEra Energy Partners from an underperform rating to a neutral rating and boosted their price objective for the company from $53.00 to $60.00 in a research report on Thursday, June 1st. Oppenheimer cut their price objective on shares of NextEra Energy Partners from $90.00 to $81.00 in a research report on Wednesday, July 26th. JPMorgan Chase & Co. cut their price objective on shares of NextEra Energy Partners from $72.00 to $69.00 in a research report on Wednesday, July 19th. Finally, Guggenheim cut their price objective on shares of NextEra Energy Partners from $81.00 to $74.00 in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners presently has a consensus rating of Moderate Buy and a consensus price target of $74.64.

NextEra Energy Partners Price Performance

Shares of NEP opened at $49.09 on Tuesday. The firm has a market cap of $4.59 billion, a PE ratio of 29.05, a P/E/G ratio of 3.10 and a beta of 0.85. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $53.23 and a two-hundred day simple moving average of $58.97. NextEra Energy Partners has a 1-year low of $44.24 and a 1-year high of $86.06.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Tuesday, July 25th. The solar energy provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.19). The company had revenue of $350.00 million for the quarter, compared to analysts’ expectations of $392.92 million. NextEra Energy Partners had a net margin of 12.22% and a return on equity of 1.06%. During the same quarter in the prior year, the firm posted $2.61 earnings per share. On average, equities analysts anticipate that NextEra Energy Partners will post 1.27 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were issued a dividend of $0.854 per share. This represents a $3.42 annualized dividend and a dividend yield of 6.96%. The ex-dividend date was Thursday, August 3rd. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.84. NextEra Energy Partners’s dividend payout ratio is 202.37%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in shares of NextEra Energy Partners by 2.8% during the 1st quarter. JPMorgan Chase & Co. now owns 29,854 shares of the solar energy provider’s stock valued at $2,488,000 after buying an additional 800 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of NextEra Energy Partners by 43.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock valued at $790,000 after buying an additional 2,858 shares in the last quarter. Private Advisor Group LLC raised its position in shares of NextEra Energy Partners by 123.8% during the 1st quarter. Private Advisor Group LLC now owns 5,466 shares of the solar energy provider’s stock valued at $456,000 after buying an additional 3,024 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of NextEra Energy Partners by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the solar energy provider’s stock valued at $406,000 after buying an additional 390 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of NextEra Energy Partners by 0.6% during the 1st quarter. Bank of Montreal Can now owns 65,199 shares of the solar energy provider’s stock valued at $5,488,000 after buying an additional 402 shares in the last quarter. Institutional investors own 80.99% of the company’s stock.

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