NextEra Energy Partners, LP (NYSE:NEP) Receives $38.79 Average Target Price from Analysts

NextEra Energy Partners, LP (NYSE:NEP) has received an average recommendation of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $38.20.

NEP has been the subject of a number of research reports. Raymond James lowered their target price on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Barclays lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. Mizuho lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Wednesday, June 12th. Finally, Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th.

Hedge Funds Weigh In On NextEra Energy Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walnut Private Equity Partners LLC boosted its holdings in NextEra Energy Partners by 15.4% during the second quarter. Walnut Private Equity Partners LLC now owns 150,000 shares of the solar energy provider’s stock worth $4,146,000 after buying an additional 20,000 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in NextEra Energy Partners during the first quarter worth about $1,441,000. Cetera Investment Advisers boosted its holdings in NextEra Energy Partners by 574.0% during the first quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider’s stock worth $1,917,000 after buying an additional 54,267 shares during the last quarter. Redwood Grove Capital LLC boosted its holdings in NextEra Energy Partners by 0.9% during the first quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock worth $23,359,000 after buying an additional 7,200 shares during the last quarter. Finally, Swedbank AB bought a new position in NextEra Energy Partners during the first quarter worth about $9,927,000. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock opened at $26.67 on Thursday. 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 has a fifty day moving average price of $30.76 and a two-hundred day moving average price of $29.43. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $59.90. The firm has a market capitalization of $2.49 billion, a P/E ratio of 8.74 and a beta of 1.04.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same period in the prior year, the company posted ($0.17) earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that NextEra Energy Partners will post 1.89 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.8925 per share. The ex-dividend date was Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a yield of 13.39%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio (DPR) is 117.05%.

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.