NextEra Energy Partners (NYSE:NEP) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of NextEra Energy Partners (NYSE:NEP) to a sell rating in a research note published on Friday.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of NextEra Energy Partners from $40.00 to $24.00 in a report on Monday, October 9th. Scotiabank decreased their price objective on shares of NextEra Energy Partners from $85.00 to $58.00 and set a sector perform rating for the company in a report on Thursday, September 28th. Bank of America decreased their price objective on shares of NextEra Energy Partners from $60.00 to $30.00 and set a neutral rating for the company in a report on Monday, October 2nd. BMO Capital Markets decreased their price objective on shares of NextEra Energy Partners from $76.00 to $47.00 and set an outperform rating for the company in a report on Thursday, September 28th. Finally, Oppenheimer lowered shares of NextEra Energy Partners from an outperform rating to a market perform rating in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $50.20.

NextEra Energy Partners Trading Up 0.7 %

Shares of NEP opened at $23.26 on Friday. The stock has a market capitalization of $2.17 billion, a P/E ratio of 17.49, a PEG ratio of 1.30 and a beta of 0.99. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $30.70 and a two-hundred day simple moving average of $47.10. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $81.32.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, October 24th. The solar energy provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. The business had revenue of $367.00 million during the quarter, compared to analysts’ expectations of $414.16 million. NextEra Energy Partners had a net margin of 9.58% and a return on equity of 0.85%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 EPS. On average, research analysts anticipate that NextEra Energy Partners will post 1.21 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were given a dividend of $0.8675 per share. This represents a $3.47 annualized dividend and a yield of 14.92%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Friday, November 3rd. NextEra Energy Partners’s dividend payout ratio is 260.90%.

Institutional Trading of NextEra Energy Partners

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in NextEra Energy Partners by 4.9% during the 1st quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock valued at $634,357,000 after purchasing an additional 356,265 shares during the last quarter. FMR LLC grew its position in NextEra Energy Partners by 18.9% during the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after purchasing an additional 774,665 shares during the last quarter. ClearBridge Investments Ltd grew its position in NextEra Energy Partners by 64.4% during the 3rd quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock valued at $106,425,000 after purchasing an additional 1,404,318 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in NextEra Energy Partners by 0.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,188,292 shares of the solar energy provider’s stock valued at $162,284,000 after purchasing an additional 16,707 shares during the last quarter. Finally, M&G Investment Management Ltd. grew its position in NextEra Energy Partners by 16.1% during the 2nd quarter. M&G Investment Management Ltd. now owns 2,171,055 shares of the solar energy provider’s stock valued at $128,092,000 after purchasing an additional 301,147 shares during the last quarter. 80.99% of the stock is owned by hedge funds and other institutional investors.

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.