Analysts Set NextEra Energy Partners, LP (NYSE:NEP) Target Price at $45.53

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.53.

A number of equities analysts recently weighed in on NEP shares. CIBC cut NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a report on Tuesday, January 9th. Raymond James reduced their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Evercore ISI started coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price target for the company. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Finally, Barclays began coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 target price for the company.

Institutional Investors Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEP. JPMorgan Chase & Co. increased its stake in NextEra Energy Partners by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 29,854 shares of the solar energy provider’s stock worth $2,488,000 after acquiring an additional 800 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of NextEra Energy Partners by 43.2% in the first 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 grew its stake in shares of NextEra Energy Partners by 123.8% in the first 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. grew its stake in shares of NextEra Energy Partners by 8.7% in the first 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 grew its stake in shares of NextEra Energy Partners by 0.6% in the first 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 and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $27.07 on Friday. The stock has a market cap of $2.53 billion, a PE ratio of 12.71 and a beta of 1.00. The business has a 50-day simple moving average of $28.39 and a 200-day simple moving average of $27.20. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $64.43.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The business had revenue of $232.00 million during the quarter, compared to analyst estimates 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, equities analysts expect that NextEra Energy Partners will post 0.9 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were given a $0.88 dividend. The ex-dividend date of this dividend was Monday, February 5th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a dividend yield of 13.00%. NextEra Energy Partners’s dividend payout ratio is 165.26%.

About NextEra Energy Partners

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.