NextEra Energy Partners (NYSE:NEP) Given New $45.00 Price Target at Raymond James

NextEra Energy Partners (NYSE:NEPFree Report) had its target price lowered by Raymond James from $50.00 to $45.00 in a report released on Wednesday morning, Benzinga reports. Raymond James currently has an outperform rating on the solar energy provider’s stock.

A number of other research analysts also recently issued reports on NEP. StockNews.com upgraded NextEra Energy Partners to a sell rating in a report on Tuesday, March 19th. Mizuho cut their price objective on NextEra Energy Partners from $40.00 to $33.00 and set a buy rating on the stock in a research report on Tuesday, December 12th. Evercore ISI began coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They issued an outperform rating and a $43.00 target price for the company. JPMorgan Chase & Co. lifted their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the company a neutral rating in a research report on Friday, January 26th. Finally, CIBC downgraded NextEra Energy Partners from a sector outperform rating to a neutral rating and set a $35.00 price objective for the company. in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $46.38.

View Our Latest Stock Report on NEP

NextEra Energy Partners Stock Performance

NYSE:NEP opened at $29.00 on Wednesday. NextEra Energy Partners has a 1 year low of $20.17 and a 1 year high of $64.43. The business has a fifty day simple moving average of $28.54 and a two-hundred day simple moving average of $28.25. The company has a market capitalization of $2.71 billion, a P/E ratio of 13.62, a P/E/G ratio of 2.13 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28.

NextEra Energy Partners (NYSE:NEPGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The firm had revenue of $232.00 million during the quarter, compared to analysts’ expectations of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. On average, analysts expect that NextEra Energy Partners will post 0.94 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, February 5th. This represents a $3.52 annualized dividend and a yield of 12.14%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is currently 165.26%.

Institutional Trading of NextEra Energy Partners

A number of large investors have recently made changes to their positions in NEP. CWM LLC boosted its holdings in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after purchasing an additional 511 shares during the last quarter. Richardson Financial Services Inc. bought a new position in shares of NextEra Energy Partners during the 4th quarter valued at $27,000. MV Capital Management Inc. purchased a new position in shares of NextEra Energy Partners in the 4th quarter worth $30,000. Heritage Wealth Advisors bought a new stake in shares of NextEra Energy Partners in the fourth quarter worth $33,000. Finally, ORG Partners LLC increased its position in NextEra Energy Partners by 120.3% during the third quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 670 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors.

About NextEra Energy Partners

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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.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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