NextEra Energy Partners, LP (NYSE:NEP) Receives $33.00 Average PT from Brokerages

NextEra Energy Partners, LP (NYSE:NEP) has been given a consensus rating of “Hold” by the seventeen research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.00.

Several analysts have recently commented on NEP shares. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Royal Bank of Canada downgraded shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Finally, Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th.

NextEra Energy Partners Stock Up 1.5 %

Shares of NextEra Energy Partners stock opened at $25.53 on Friday. NextEra Energy Partners has a one year low of $20.17 and a one year high of $51.53. The company has a market cap of $2.39 billion, a P/E ratio of 8.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The firm has a fifty day moving average of $26.96 and a two-hundred day moving average of $28.73.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. During the same period in the prior year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, analysts forecast that NextEra Energy Partners will post 1.78 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a yield of 14.18%. The ex-dividend date of this dividend was Tuesday, August 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 118.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEP. CWM LLC lifted its stake in shares of NextEra Energy Partners by 160.2% during the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of NextEra Energy Partners during the 4th quarter worth $27,000. Hexagon Capital Partners LLC boosted its holdings in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the last quarter. Heritage Wealth Advisors acquired a new stake in shares of NextEra Energy Partners during the fourth quarter worth $33,000. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of NextEra Energy Partners in the first quarter valued at $36,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

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.