NextEra Energy Partners, LP (NEP) To Go Ex-Dividend on May 6th

NextEra Energy Partners, LP (NYSE:NEP) announced a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Stockholders of record on Tuesday, May 7th will be given a dividend of 0.8925 per share by the solar energy provider on Wednesday, May 15th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date is Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88.

NextEra Energy Partners has raised its dividend payment by an average of 14.3% annually over the last three years and has increased its dividend every year for the last 10 years. NextEra Energy Partners has a dividend payout ratio of 199.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect NextEra Energy Partners to earn $0.86 per share next year, which means the company may not be able to cover its $3.57 annual dividend with an expected future payout ratio of 415.1%.

NextEra Energy Partners Price Performance

Shares of NEP stock opened at $30.91 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.31. The stock’s fifty day simple moving average is $28.48 and its 200 day simple moving average is $27.68. NextEra Energy Partners has a one year low of $20.17 and a one year high of $63.89. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 10.13 and a beta of 1.01.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The business had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that NextEra Energy Partners will post 1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. CIBC lowered shares of 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. StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. upped their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $41.60.

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.