Wolfe Research Lowers NextEra Energy Partners (NYSE:NEP) to Peer Perform

Wolfe Research cut shares of NextEra Energy Partners (NYSE:NEP) from an outperform rating to a peer perform rating in a research report report published on Thursday, Marketbeat.com reports.

Other analysts have also issued research reports about the stock. Mizuho lowered shares of NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a research note on Wednesday, June 12th. Oppenheimer reaffirmed a market perform rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. Barclays cut NextEra Energy Partners from an equal weight rating to an underweight rating and decreased their price objective for the company from $32.00 to $25.00 in a report on Thursday, June 13th. Royal Bank of Canada lowered NextEra Energy Partners from an outperform rating to a sector perform rating and dropped their target price for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. reiterated an underweight rating and set a $25.00 price target on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, NextEra Energy Partners presently has a consensus rating of Hold and an average price target of $33.79.

NextEra Energy Partners Stock Up 1.0 %

Shares of NEP stock opened at $26.20 on Thursday. NextEra Energy Partners has a fifty-two week low of $20.17 and a fifty-two week high of $57.29. The firm has a market capitalization of $2.45 billion, a PE ratio of 8.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.31 and a current ratio of 1.30. The stock’s 50-day simple moving average is $29.43 and its 200-day simple moving average is $29.05.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share 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 company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. During the same quarter in the prior year, the company earned $0.53 EPS. NextEra Energy Partners’s quarterly revenue was up 22.9% on a year-over-year basis. Equities analysts expect that NextEra Energy Partners will post 1.72 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a yield of 13.82%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date is Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 118.69%.

Institutional Trading of NextEra Energy Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC lifted its stake in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of NextEra Energy Partners in the fourth quarter valued at approximately $27,000. Hexagon Capital Partners LLC boosted its stake in shares of NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after acquiring an additional 627 shares during the last quarter. MV Capital Management Inc. purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth approximately $30,000. Finally, Heritage Wealth Advisors purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

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.